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Christoph Rieche, co-founder and CEO of iwoca |
The flow of venture capital investment into fintech disruptors to the banking industry continues, as these new providers seek to boost funding to small and medium-size businesses that have been poorly served by traditional lenders.
Iwoca (it stands for instant working capital), one of the fastest growing SME lending platforms in Europe, carried out a $20 million Series B equity financing round led by Acton Capital Partners, the specialist German venture capital firm, and CommerzVentures, the corporate venture capital subsidiary of Commerzbank in July.
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