iWoca Scores a Fresh £270 m Funding Flood
iWoca, one of Europe’s biggest SME lenders, just landed another hefty £270 million in debt financing. That brings its total gross investment since 2012 to a whopping over £1 billion.
Funding Breakdown
- Germany: £150 million (≈ €175 million) from Citibank and Insight Investment to fuel the company’s expansion.
- UK: £120 million from Barclays and Värde Partners to meet the rising demand for small‑business finance.
It’s no surprise that iWoca is getting such a money‑move—just a few weeks ago they pulled in £200 million from Barclays and Värde, and a year earlier they snagged £170 million from Pollen Street Capital.
Why It Matters
With the new infusion, iWoca can keep helping small companies grow—think of it as giving a boost to a startup’s spa day, but with money.
Bottom Line
More capital, more confidence, and more small businesses that can finally afford that “next big thing.” iWoca has officially crossed the £1 billion threshold and is steering its credit ship toward new horizons.
New lending record and £3bn in loans to small businesses
iwoca’s Money‑Making Momentum
Since 2012, the fintech straight‑shooting at small and medium enterprises has already dished out a staggering £3 billion in working‑capital loans across the UK and Germany.
Q1 2024: A Record‑Breaking Quarter
Just in the first three months of 2024, iwoca put up its biggest loan volume ever:
- £200 million dispersed across 9,000 business loans
- All of it rolled out across both the UK and Germany between January and March
Think of it as a cash‑flow festival, and everyone got a ticket.
Embedded Finance – Making Loans a Breeze
iwoca is thriving by weaving its lending tech right into the platforms businesses already love:
- Jam-packed loans inside Qonto’s accounting suite
- Convenient access via Countingup’s platform
- And a growing list of other partners, turning borrowing into a side‑kick, not a chore
In short, the company is turning “cash‑needs” into “click‑and‑borrow” moments, letting entrepreneurs get the funds they need without leaving their favourite app.
Bottom Line
With a £3 billion legacy and a record haul in Q1 2024, iwoca is proving that embedded finance can turn financial hurdles into daily conveniences, all while keeping the process simple enough to feel like a cup of coffee on a busy morning.
Bridging the SME funding gap
iwoca’s Funding Boost: Why Smalls Are Turning to Digital Lenders
In a move that’s making the old‑fashioned high‑street banks feel the heat, iwoca has just received a fresh injection of capital. Why? Because a good chunk of UK banks are dialing back their support for small and medium‑sized firms.
What the Numbers Say
The latest SME Expert Index from iwoca shows:
- 76% of brokers say big banks are pulling back on funding small businesses.
- Nearly 9 out of 10 (86%) predict that demand for finance will skyrocket in the next six months.
Meanwhile, the British Business Bank’s 2024 annual report confirms that 59% of all loans went to specialist and challenger lenders – a record high for last year.
Why iwoca Isn’t Shaking
Christoph Rieche, the CEO and co‑founder, told us, “This capital boost lets us keep pace with the flood of request for our Flexi‑Loan.” He added that small‑biz owners pick iwoca over the banks because:
- Speed: Decisions usually happen in 24 hours.
- Flexibility: Loan terms that fit the unique rhythm of each business.
These perks aren’t just hype; they reflect decades of tech work behind the scenes. With over 130,000 loans processed, iwoca’s data models are leading the pack, offering credit to businesses that banks typically pass over – especially if they haven’t been trading for years.
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