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SME lender iwoca raises £150 million in debt and equity financing

SME lender iwoca raises £150 million in debt and equity financing

UK small business lender iwoca has raised £150 million in equity and debt capital, including figures from a recent Series D equity round led by Augmentum Fintech.

The firm, which reached profitability in 2018, says the capital raise will enable it to continue recruiting new customers across its main markets in the UK, Germany and Poland. So far the fintech firm has funded more than 25,000 small businesses across Europe.

Christoph Rieche, co-founder and CEO of iwoca, says: “iwoca continues to grow rapidly while bank lending to small companies has dwindled. We are on track to fund 100,000 small businesses in the next five years and our mission is to help one million small businesses succeed by opening up access to finance.”

London listed fintech venture fund Augmentum announced in January a £7.5 million investment in iwoca.

NIBC Bank and other existing investors, including Prime Ventures, also participated.

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