Online invoice trading platform MarketInvoice has become the latest member of the Peer-to-Peer Finance Association.

More than £130m has been funded through the platform to date with the UK government now using it to help channel funds to SMEs.

Anil Stocker, chief executive officer of MarketInvoice, said: “We’re excited to be joining the Peer-to-Peer Finance Association.

“The work of this body is key in ensuring that our innovative, disruptive and fast-growing sector has the right foundations to continue thriving.

“The UK stands at the forefront of global financial technology innovation and to make a meaningful long-term difference to customers all members need to maintain the highest standards of client service, ethics and protection.

“The Association’s commitment to these principles is clear, and we look forward to contributing to the mission.”

The Peer-to-Peer Finance Association now represent 95% of all peer-to-peer lending and over 75% of peer-to-peer invoice training.

Christine Farnish, independent chair of the Peer-to-Peer Finance Association, said: “These two types of alternative finance show huge promise in terms of providing attractive new ways of channelling funds to SME businesses to help boost economic growth.

“MarketInvoice is a leading p2p player with a great product that is shaking up and improving the UK’s business finance market. We are delighted to welcome them into the P2PFA.”