Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

SME lender iwoca raises new £200 million funding line after reaching £2.5bn in finance lent

by October 17, 2023
October 17, 2023
SME lender iwoca raises new £200 million funding line after reaching £2.5bn in finance lent

iwoca, one of Europe’s largest SME lenders, today announces a new funding line with initial commitments of £200 million from Barclays and Värde Partners.

In January this year, iwoca secured an increase and extension to its existing funding line, with long-standing partner Pollen Street Capital – from £125 million to £170 million – as demand for SME finance soared. With the new £200 million funding line from Barclays and Värde, this now takes the total debt commitments to over £850 million.

Bridging the SME funding gap

As high-street banks reduce access to capital for SMEs, this funding line equips iwoca to meet the growing SME demand for working capital. According to iwoca’s Q2/23 SME Expert Index, more than four in five brokers (84%) say high street banks are reducing their appetite for funding SMEs. This increased by 7 percentage points since Q1 2023.

A similar proportion of SME finance experts (81%) predict demand for finance for SMEs will increase by the end of the year, indicating that the funding gap for SMEs is set to widen without support from alternative lenders.

Supporting the full range of SMEs

Across the UK and Germany, iwoca has lent over £2.5bn since its launch in 2012 across more than 120,000 business loans. As of Q3 2023, the lender is on track to end the year having doubled the number of small business loans it has funded when compared to 2021.

iwoca‘s top-funded sectors to date are as diverse as construction (15% of total funding); retail (11%); and manufacturing & food production (10%).

Christoph Rieche, iwoca CEO and co-founder, (pictured) said: “We started iwoca after the financial crisis to offer SMEs the support that was so badly needed during uncertain times. Now, over 10 years later, we are fully tested and have proven that we can be there for SMEs when they need us the most. With this new funding, we’re in an even better position to help smaller businesses in the UK and Germany at a time of economic uncertainty. These SME businesses form the basis of a strong economy, and iwoca will lead from the front to help them thrive and achieve their goals.”

“We are pleased to support the expansion of commercial financing opportunities in the UK through iwoca,” said Aneek Mamik, Global Head of Financial Services & Diversified Private Credit at Värde Partners. “iwoca’s differentiated sourcing and underwriting capabilities give us access to a high quality portfolio of commercial businesses. This builds on our leading position in providing commercial lending and leasing solutions to parts of the economy increasingly underserved as banks are less able to meet the full spectrum of the demand.”

iwoca is reaching nearly 3 million businesses across the UK and Germany through its embedded lending technology, which allows businesses to access loans directly through a range of platforms such as accountancy software apps and digital neo-banks. In addition to its Flexi-Loan, the lender offers an omni-channel B2B payment solution – iwocaPay, and a Revenue-Based Loan, which it launched with eBay in 2022, where repayments are a percentage of a business’s monthly sales.

Read more:
SME lender iwoca raises new £200 million funding line after reaching £2.5bn in finance lent

0
FacebookTwitterGoogle +Pinterest
previous post
Rolls-Royce to cut up to 2,500 jobs
next post
What is a retail experience agency and how can it help?

You may also like

Campaigners call for end to ‘peak fare rip...

March 6, 2023

MPs propose levy on arena concert tickets to...

May 12, 2024

All’s Fair in Love and Business

February 14, 2024

NatWest limits cryptocurrency transfers over scam fears

March 15, 2023

UK and Albania outline £4bn ambition for closer...

March 27, 2023

Elon Musk donates almost $2bn of Tesla shares...

February 15, 2023

British Steel announce first 260 jobs to go...

February 23, 2023

Netflix to launch cheaper ad-supported subscription tier in...

September 5, 2022

A comprehensive guide: Understanding the different types of...

September 25, 2023

KUSTO GROUP’S TAMBOUR LEADS ISRAEL’S CONSTRUCTION PROJECTS

October 24, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,570)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved