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Payments General

SME lender Iwoca gets GBP 7.5 mln investment from Augmentum

Monday 4 February 2019 | 12:35 PM CET

Iwoca, the challenger SME lender, has received a GBP 7.5 million investment by Augmentum Fintech, a European venture capital investor.

This is part of a much larger investment round that Iwoca hasn’t closed yet, and will be announcing soon. The funding will allow Iwoca to grow its balance sheets and operations more quickly.

Founded in 2011, Iwoca’s technology aims to lower the barriers obstructing access to finance for small businesses in Europe.

The fintech has funded more than 25,000 small and medium enterprises across the UK, Germany and Poland.

Iwoca recently released open banking for all new customers with a Lloyds Bank account.

More: Link
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