Iwoca secures £270m debt funding package from Citibank, Insight Investment, Barclays, and Värde Partners to support SME lending.

Iwoca has secured a £270m debt funding package from Citibank, Insight Investment, Barclays, and Värde Partners to support its lending operations in the UK and Germany. The financing is designed to help the company meet increasing demand for business loans from small enterprises. Citigroup and Insight Investment provided £150m for expansion in Germany, while Barclays and Värde Partners contributed £120m for the UK market.

Founded in 2012, the lender has processed more than 130,000 small business loans. The latest capital injection follows a previous £200m backing from Barclays and Värde Partners in October last year, taking the firm's total investment past the £1bn mark. Iwoca relies on proprietary technology and open banking solutions to assess risk and deliver fast lending decisions to businesses with limited working capital.