SMALL BUSINESS LENDER IWOCA TO BACK 100,000 SMES WITHIN FIVE YEARS
February 19th, 2019.



Small business lender Iwoca plans to fund 100,000 small businesses in the next five years across the UK, Germany and Poland.


To date, Iwoca has funded more than 25,000 businesses.

Iwoca announced yesterday that it has raised an additional £150 million in equity and debt capital to help it achieve its goals – which include opening a new office in Germany – bringing its total funding to £350 million.

This most recent fundraising included a £7.5 million Series D equity round led by Augmentum Fintech, the specialist fintech venture capital investor. NIBC Bank and other existing investors, including Prime Ventures, also participated.

The small business lender went into profit in 2018, while doubling its revenue in each of the last three years.

Iwoca provides loans of up to £250,000 to small and micro businesses across the UK, Germany and Poland via its website. It claims to make credit available in a few clicks.


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