Australian fintech Marmalade has launched a British subsidiary, UKTN can reveal, in signs the flexible invoice business is gearing up for major international expansion.
Founded in 2020, Marmalade allows users to receive advanced payments on invoices to maintain reliable cash flow.
Companies submit unpaid invoices to the firm, which transfers the funds to the business, taking a fee of up to 5.5%. The fintech’s product integrates directly with existing accounting platforms such as Xero, Quickbooks and MYOB.
According to Companies House filings, the company directors have now registered three entities in the UK with the company branding: Marmalade Payments UK, Marmalade Operations UK and Marmalade UKDM Ltd. The businesses are registered in the London Borough of Westminster.
Marmalade did not respond to a request for comment.
The fintech raised around £8m earlier this year in a round led by Blue Stamp Company – of which Marmalade co-founder and CEO Luke Trickett is a fund manager.
Additional funding came from Paloma Capital and a handful of family offices.
The founding team consists of former staff and investors of Australian buy now pay later firm Afterpay, now owned by Jack Dorsey’s Block.
According to tech publication Australian Fintech, the company has raised a total of AU$32m (£16.3m).
The group currently has offices in Melbourne, Brisbane and Sydney.
