UK SME lender Iwoca secures £270m debt funding from Citibank and Barclays



Iwoca, a UK-based SME lender, has landed a substantial £270 million debt funding package from Citibank and Barclays to expand its operations in the UK and Germany.

A-2

UK-based SME lender Iwoca has secured a substantial debt funding package amounting to £270 million in order to expand its presence in both the domestic and international markets. This move comes in response to the increasing demand for financial support from small businesses. The funding package consists of a joint commitment of £150 million from Citibank and Insight Investment, which Iwoca plans to utilize for its growth in Germany. Additionally, the lender has secured a further £120 million arrangement with Barclays and US-based Värde Partners to fuel its operations in the UK. Notably, Barclays and Värde Partners had previously provided Iwoca with a £200 million debt facility in October last year.


UK SME lender Iwoca secures £270m debt funding from Citibank and Barclays

Established in 2012, Iwoca offers an embedded lending solution that allows small businesses to access loans through third-party platforms and neobanks. The company boasts of providing £3 billion in loans to SMEs since its inception, with £200 million lent across 9,000 business loans in the last quarter alone. According to Iwoca, its recent quarterly SME Expert Index revealed that 76% of brokers are witnessing a decline in SME funding from traditional banks, while 86% anticipate a surge in demand for financial assistance.

Iwoca CEO Christoph Rieche stated that the lender has processed over 130,000 small business loans to date, leveraging its extensive data and risk modeling capabilities to cater to businesses that may not meet the criteria set by mainstream banks, particularly those without multiple years of trading history.

A-3

Iwoca's latest funding injection is poised to bolster its expansion efforts in key markets and enable it to meet the growing financial needs of small businesses amidst changing lending landscapes.

UK SME lender Iwoca secures £270m debt funding from Citibank and Barclays

Support Ogusyis by making a contribution – no matter how small.


Enter your amount
£
Enter your amount
£
Enter your amount
£
Yourname
Email
Phone

AD4


Permira Considers Sale of £1.5bn Stake in Evelyn Partners

Private equity firm Permira is exploring the sale of its £1.5bn majority stake in Evelyn Partners, signaling potential market shifts.

Private equity firm Permira is exploring the sale of its £1.5bn majority stake in Evelyn Partners, signaling potential market shifts.

Read more

TerraPay Transforms Cross-Border Payments with Mobile Wallets

Discover how TerraPay's new service connects 2.1B mobile wallets globally, revolutionizing cross-border payments for businesses and consumers.

Discover how TerraPay\'s new service connects 2.1B mobile wallets globally, revolutionizing cross-border payments for businesses and consumers.

Read more

Controlling personal finance and budgeting app

Mintos Expands in Europe with Launch in Portugal

Mintos officially launches in Portugal, marking a significant expansion in Europe and offering new investment opportunities for savvy investors.

Mintos officially launches in Portugal, marking a significant expansion in Europe and offering new investment opportunities for savvy investors.

Read more

Trever Raises €2.4M for Asset Management Platform, Eyes Expansion in Europe's Banking Sector

With a solid foothold in the DACH market, Trever secures funding to grow its client base among Europe's banking institutions.

With a solid foothold in the DACH market, Trever secures funding to grow its client base among Europe\'s banking institutions.

Read more

Buy Land & Vacant Lots on Easy Monthly Payment Plans

Grosvenor UK Invests in Europe’s Largest Proptech VC Noa

Discover how Grosvenor UK's investment in Noa is revolutionizing the built world industry, making it more digital, efficient, and accessible.

Discover how Grosvenor UK\'s investment in Noa is revolutionizing the built world industry, making it more digital, efficient, and accessible.

Read more

EPI Launches Wero: A Digital Wallet and Instant Payments Solution in Germany

Discover the latest innovation from The European Payments Initiative with the launch of Wero, a digital wallet and instant account-to-account payments solution in Germany.

Discover the latest innovation from The European Payments Initiative with the launch of Wero, a digital wallet and instant account-to-account payments solution in Germany.

Read more

Buy Land & Vacant Lots on Easy Monthly Payment Plans

Greek Neobank Snappi Granted Universal Banking License by ECB

Learn about how Snappi, a Greek neobank, secured a universal banking license from the ECB with the support of the Bank of Greece.

Learn about how Snappi, a Greek neobank, secured a universal banking license from the ECB with the support of the Bank of Greece.

Read more

Taxfix Expands to UK Market with TaxScouts Acquisition

German digital tax platform Taxfix partners with TaxScouts to streamline tax filing for UK users, making the process simpler and more empowering.

German digital tax platform Taxfix partners with TaxScouts to streamline tax filing for UK users, making the process simpler and more empowering.

Read more

CredAble Launches Revolving Short-Term Loans for MSMEs in FinTech Move

Discover how CredAble's new product addresses the $5.2 trillion financing gap for MSMEs, focusing on working capital shortages in India.

Discover how CredAble\'s new product addresses the $5.2 trillion financing gap for MSMEs, focusing on working capital shortages in India.

Read more

Copyright © Ogusyis. All rights reserved. The Content may not be copied, distributed,  republished, uploaded, posted or transmitted in any way without the prior written consent of Ogusyis.