After recording little or no growth since 2012, the debtor finance market made modest gains last year.The Debtor and Invoice Finance Association reported that sector turnover grew 2.8 per cent in 2015, increasing from A$62.7 billion in 2014 to $64.4 billion last year. Invoice discounting, where the seller of the trade debt retains the accounting and debt collection functions, accounted for the bulk of the turnover. Invoice discounting turnover in 2015 was $59.1 billion, compared with $57.5 billion the previous year.Factoring, where the finance company takes over the accounting and debt collection, accounted for $5.3 billion of turnover - up from $5.1 billion in 2014.While business activity was up, there was a continuation of the long-term decline in client numbers. Numbers were down 7.3 per cent year-on-year to 4115.Wholesale trade and manufacturing are the core markets for debtor finance, accounting for 58 per cent of receivables last year.Despite its low growth in recent years, the debtor finance market has attracted the attention of fintechs. Marketplace lender InvoiceX, which was launched in 2014, is an online debtor finance specialist. The company has forecast that it expects to trade more than $50 million of invoices this year. P2P lender Marketlend also offers debtor finance.