UK SME lender Iwoca bags £200m debt funding package from Citi and Waterfall Asset Management
Iwoca, a UK-based lender focused on small and medium-sized enterprises (SMEs), has landed a new £200 million package of debt funding from Citi and Waterfall Asset Management.
Iwoca is also doubling its SME loan offer ceiling to £1m
The company offers an embedded lending solution that allows SMEs to access loans via third-party platforms and neobanks, leveraging a credit risk engine designed to make accurate credit decisions based on business performance.
Iwoca claims to have issued £730 million across 35,000 business loans in 2024, marking year-over-year growth of 76% in lending and 82% in loan transactions.
This latest investment builds on a £270 million debt funding package secured in April, with Citi once again participating, contributing £150 million alongside Insight Investment, a London-based asset manager, to enable Iwoca to drive its growth in the German market.
Iwoca has now secured nearly £1.5 billion in debt funding since launching in 2012.
The company plans to use its latest debt funding to expand support for medium-sized businesses by doubling the maximum loan ceiling of its core product, the Flexi-Loan, to £1 million.
