iwoca secures a £200m debt facility from Barclays and Värde Partners to expand SME lending.
The new debt financing follows an earlier facility extension with Pollen Street Capital.
Iwoca provides digital finance and business loans to small and medium enterprises across the UK and Germany.
London lender iwoca has secured a £200m debt facility with initial commitments from Barclays and Värde Partners. The fresh capital aims to help the company meet surging working capital demand from small businesses as high street banks scale back their lending activities.
Founded in 2011, the company has previously expanded funding partnerships, including an extension with Pollen Street Capital earlier in the year. The latest injection brings iwoca's total secured debt commitments to over £850m as the lender scales its operations across the UK and Germany.
From the founder
"We started iwoca after the financial crisis to offer SMEs the support that was so badly needed during uncertain times. Now, over 10 years later, we are fully tested and have proven that we can be there for SMEs when they need us the most. With this new funding, we’re in an even better position to help smaller businesses in the UK and Germany at a time of economic uncertainty. These SME businesses form the basis of a strong economy, and iwoca will lead from the front to help them thrive and achieve their goals."
Christoph Rieche
CEO and co-founder at iwoca
Investor perspective
"We are pleased to support the expansion of commercial financing opportunities in the UK through iwoca,"
Aneek Mamik
Global Head of Financial Services & Diversified Private Credit, Värde Partners
