QUICK READ
Iwoca, a London-based fintech focused on SME lending, has secured £200m in debt funding from Citi and Waterfall Asset Management. This financing supports record demand for SME loans, enabling iwoca to double its Flexi-Loan limit to £1m to serve medium-sized businesses. Since its launch in 2012, iwoca has raised £1.5bn, including £740m from notable partners like Citi, Barclays, and Insight Investment.
The company reported record financial performance in 2024, achieving £250m in ARR in Q3, a 62% YoY growth, and lending £730m across 35,000 loans by October, representing a 76% increase YoY. Iwoca is now among the UK's top 10 fintechs by revenue (£143m in 2023) and profitability, with consistent net profits since Q4 2022.
CEO Christoph Rieche highlighted iwoca’s growth and the expansion of its loan offerings as critical to meeting the needs of medium-sized businesses, reaffirming the company's mission to make SME financing more accessible.
