The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Storfund brings invoice finance to e-commerce marketplaces

The fintech’s fast growth highlights the large banks’ inability to adapt their technology to provide basic finance to small businesses.

Daily life in Birmingham, England
Source: NurPhoto via Getty Images

Large banks don’t do a good job for small businesses. Their credit is as hard to underwrite as that of large corporations, yet they only want small and flexible working capital facilities not three-year and five-year standardized term loans that suit the banks.

Big banks are built to serve big companies.

Bank lobbyists will pile up data claiming to show the opposite.

Stephen Pegge, managing director of commercial finance at UK Finance, says: “The UK’s banking and finance industry is delivering an unprecedented level of support to businesses across the whole country to help them through these challenging times. Over 1.5 million businesses have been helped with government-guaranteed loans totalling over £68 billion.”

Stephen Pegge_400x225.jpg
Stephen Pegge, UK Finance

If you find a single UK SME that feels well served by a large UK bank, please let us know. Euromoney has not encountered one.

The only question is whether challengers like Iwoca and OakNorth can seize the opportunity and themselves scale up, as SoFi is seeking to in the US.

Storfund, a two-year old fintech founded by former colleagues at Barclays who saw a gaping hole in invoice discounting for merchants on e-commerce marketplaces, exemplifies the story in two ways.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?