28 August 2016
Find out more

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

10 January 2014  |  4102 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  |  5401 views  |  0 comments | 10 tweets | 9 linkedin
PayPal moves into small biz lending

PayPal moves into small biz lending

25 September 2013  |  8136 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  |  4299 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  |  7788 views  |  1 comments | 8 tweets | 3 linkedin
Wonga starts lending to businesses

Wonga starts lending to businesses

08 May 2012  |  3866 views  |  2 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comVisit equens.comVisit www.abe-eba.eu

Top topics

Most viewed Most shared
hands typing furiouslyBig Data's Three Big Trends in 2016
8061 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
7777 views 11 | 24 tweets | 10 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6698 views comments | 17 tweets | 21 linkedin
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
6241 views comments | 16 tweets | 18 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6232 views comments | 14 tweets | 14 linkedin

Featured job

Find your next job