The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Fintech

Fintech: Investors back new non-bank lender to SMEs

Iwoca a game changer, say banks; it will lend at scale to small companies.

Christoph Rieche-600.
Johan - Paul Hion

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. Redline Capital and other existing investors also participated.

The funds raised will be leveraged up through iwoca’s own credit facilities, mainly with institutional investors into $150 million of lending capacity to support rapid expansion of iwoca’s UK operations and further enlarge its presence across Europe, notably in Germany, Spain and Poland.

“Our mission is to fund the millions of small businesses across Europe that have annual turnovers in the hundreds of thousands of euros and typically less than 10 employees,” Christoph Rieche, co-founder and CEO of iwoca, tells Euromoney.



You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree