iwoca

lendingsme financing

FOUNDING YEAR: 2011
LOCATION: United Kingdom
Last Update: 12/08/2020

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About

Helping small businesses get the finance they need. 4.7/5 on Trustpilot #stockupsmall #keepbritaingoing

MEDICI Analysis

iwoca combines the growth of e-commerce, scarcity of credit and emergence of innovative data sources to create an exciting investment opportunity. The company provide working capital of up to £50,000 to successful merchants by using their feedback scores, sales history and social behaviour to assess their credit profile. Also, it specializes in offering small business loans quicker than incumbent banks. The company has been named as one of ten winners of the Open Up Challenge with a prize of £100,000 per winner (Dec 2017).

Focus

PRODUCTS & SERVICES

Credit services to small businesses

REVENUE MODEL

Interest rate is applicable for every loans offered through company's platform

MAIN CLIENTS

Brew Lab Coffee

B&K Beauty Boutique

Urban Species

EXISTING PARTNERSHIPS

Alibaba

linnworks

Brightpearl

E-trackit

Volo

Startup Direct

Webinterpret

VisualSoft

Frooition

Remobe the Background

Currencies Direct

Worldfirst

FreeAgent

Accordance

Meridian Global Service

3P Logistics

Seko Synergy,

Traction

VALUATION / MARKET CAP:

$133.33 M in 2015

ACTIVE USERS:

0.0015

TRACTION COMMENT:

The company claims that it has funded more than 15,000 small businesses with a total of £300 million till date (Dec 2017).

People

FOUNDERS

James Dear

Christoph Rieche

BOARD MEMBERS AND ADVISORS

Matus Maar

Vasile Foca

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Acton Capital Partners

Augmentum Fintech

Beyond Digital Media

CommerzVentures

CommerzVentures GmbH

Global Founders Capital

NIBC Bank

Pollen Street Capital

Prime Ventures

Redline Capital

Redline Capital Management S. A. (RCM)

Shawbrook Bank

Talis Capital

KEY EMPLOYEES:

Christoph Rieche (CEO); James Dear (CTO)

Momentum

FUNDED

YES

TOTAL FUNDING

$84.05 M

DATE OF LAST FUNDING

Feb 2020

TOTAL FUNDING COMMENT

The company will use the funds to build the technology that makes credit available to small businesses quickly, providing access directly through the website and through partner integrations with its Lending API(May 2018).

FUNDING SERIES

SERIES A  · $8.24 M  · Jan 2014

SERIES B  · $20 M  · Jul 2015

SERIES C  · $26.74 M  · Oct 2016

SERIES D  · $25.85 M  · Feb 2019

OTHERS  · $3.22 M · Jul 2017

DEBT FUNDING

$109.97 M

PRIZE MONEY

$24.12 M

LISTED

NO

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