iwoca, a London, UK-based provider of finance solutions to SMEs, received a £200M new financing line.
Citi and Waterfall Asset Management provided the financings.
Led by CEO Christoph Rieche, iwoca is a SME lender which, over the past eleven years, has grown from a small startup to a growing business lender in Europe. Now, it has a team of approximately 400 people in London and Frankfurt.
The company intends to use the funds to expand its business reach. The lender plans to expand further into medium-sized businesses by doubling the size of its core product — the Flexi-Loan — to £1m.
The funding followed a series of investment rounds in the past two years, attracting £740M debt funding from partners including Citi, Barclays, Värde Partners, Pollen Street Capital, and Insight Investment.
FinSMEs
11/11/2024