23 October 2017

'Wonga-for-business' Iwoca lands £5 million funding round

10 January 2014  |  5087 views  |  0 Pound note Queen Close up

Iwoca, the london-based 'Wonga-for-business' short-term finance start-up has raised £5 million in equity and debt funding from Global Founders Capital and Redline Capital Management.

The firm, set up by ex-Goldman Sachs VP Christoph Rieche and former Deutsche Bank VP James Dear, launched last year targetting firms selling on eBay and Amazon with short-term loans of between £100 and £50,000.

Reports suggest the company loaned out up to £1 million last year, and it now plans to extend its offering to a further 5000 small businesses in the UK.

The new round of funding follows a successful £2 million round last year. The company says it will use the money to expand its operations in the UK and move into Europe.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Crowdfunding in the UK set to raise £1.6 billion in 2014

Crowdfunding in the UK set to raise £1.6 billion in 2014

13 December 2013  |  5816 views  |  0 comments | 10 tweets | 9 linkedin
PayPal moves into small biz lending

PayPal moves into small biz lending

25 September 2013  |  9606 views  |  1 comments | 12 tweets | 4 linkedin
Wonga in talks to buy US small biz lender - Bloomberg

Wonga in talks to buy US small biz lender - Bloomberg

30 November 2012  |  4651 views  |  0 comments | 4 tweets | 1 linkedin
UK Government promotes national supply chain finance scheme

UK Government promotes national supply chain finance scheme

23 October 2012  |  8282 views  |  1 comments | 8 tweets | 3 linkedin
Wonga starts lending to businesses

Wonga starts lending to businesses

08 May 2012  |  4547 views  |  2 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.innotribe.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19027 views comments | 26 tweets | 38 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15080 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10929 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
8955 views comments | 14 tweets | 28 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job