iwoca

iwoca’s mission is to drive sustainable economic growth by providing fast, flexible finance to millions of small businesses across Europe.

iwoca’s mission is to offer finance to the millions of European small businesses that are underserved by the banks. We do this through proprietary technology which reduces underwriting costs by 90% whilst increasing approval rates and offering a dramatically simpler customer experience. Getting approved with iwoca is fast and free. Businesses sign up online, passing us their trading data through integrations with high-street banks, ecommerce platforms, payment processors and more. For instance, an online retailer might link their eBay store to give us a real-time view of their sales history and customer feedback. This data then feeds into our risk engine, allowing us to make accurate decisions within hours and lend up to £100,000. To date we’ve issued over £70M to businesses across the UK, Germany, Spain and Poland. We’re now opening our “credit-as-a-service” platform to strategic partners such as Alibaba, allowing them to finance their customers directly.

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Name CEO: Christoph Rieche
Founded in: 2011
Country: United Kingdom
Website: www.iwoca.co.uk
Company Twitter: @iwoca
Category: Alternative Finance

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