MarketInvoice, an online invoice finance marketplace, has announced two senior appointments to its leadership team. Neha Mittal is appointed as VP -Finance & Strategy and Gavin Sumner is promoted to VP – Sales. The appointments come at a time of heightened growth as the business scales and moves towards its ambition of £2b invoice finance funding in 2017.
MarketInvoice business highlights (last 12 months):
- Funded against invoices worth over £1.2b (to date, since 2011), £2,196 funded every minute to UK businesses in 2016
- Provided record funding to UK businesses in March 2017 (54.7m) and delivered 60% year-on-year funding growth from £81.1m (Q1 2016) to £129.6m (Q1 2017)
- Raised £7.2m (series B) in recent investment round from European venture capital fund Northzone and private equity group MCI Capital
- Appointed Giles Andrews, the founding father of peer-to-peer lending, as Chairman
Neha began her career in London at Deutsche Bank in 2006 in the fixed income derivatives group. She launched the DB Fixed Income ETF platform (2nd largest in Europe), growing her portfolio to £10b AUM before leaving in 2012 as VP Synthetic Fixed Income Trading to pursue an MBA. She is a 2014 Wharton MBA. Her passion for fintech brought her back to London where she founded start-ups – Ambitioni (big data for alumni/career services) and Laddoo (IM platform for businesses) before joining MarketInvoice.
Neha had a short stint at MarketInvoice in 2016 as a Strategy Consultant to develop the MarketInvoice product suite, working with the sales and finance teams in creating growth strategies. In the newly created role of VP Finance & Strategy, Neha will manage the finance team; be responsible for key financial metrics management and reporting; and be central to the strategic development and growth of the business.
Gavin began his career working for Experian PLC, the global information services group. During his time there, he had a variety of different sales and leadership roles. He was responsible for leading growth across sectors such as Retail, Telco’s, Utilities and Central Government. During his time in the Experian Marketing Services business, he led a team covering over 3000 customers, where he was responsible for retaining and growing these relationships. He joined MarketInvoice in 2016 as Head of Sales, where he has worked across Direct, Partnerships and Account Management teams.
As VP of Sales at MarketInvoice, Gavin will be responsible for the entire revenue number for MarketInvoice, where he will lead a growing team of 25 sales people, between our London and Manchester offices. His key responsibilities include driving revenue growth, developing & mentoring sales talent and enhancing sales structures. Gavin read Journalism at Lincoln University in 2006.
Anil Stocker, CEO and Co-founder of MarketInvoice, “Here at MarketInvoice, we are excited about the future. It is a pleasure to work with people who care so deeply about our mission to serve UK businesses, and we are happy to be able to promote internally as well as bring in the best talent into these new positions. Both Neha and Gavin have knowledge and experience of the challenges that lie ahead as we scale up and we are confident they can make a real impact here. These new appointments will strengthen MarketInvoice’s ability to create new products, deliver the best in class customer service, and support businesses across the country.”