Iwoca receives 50 million euros in fresh financing capital

The money comes from asset manager Pollen Street Capital. The SME financier also achieved net profitability in the fourth quarter.

Iwoca receives 50 million euros in new financing capital. The German-British fintech is a financier for the self-employed and small and medium-sized enterprises. The financing limit now stands at 193 million euros. Long-standing cooperation partner Pollen Street Capital, based in New York and London, is providing Iwoca with the money.

The KUM financier is currently experiencing a surge in demand for corporate loans. Higher costs and slower payments from customers are creating additional financing requirements for many companies. According to its own figures, the total number of financed customers rose by 50 percent last year alone to a total of 15,429 companies. Also last year, the lender increased the maximum amount of its flexi-loan from 200,000 euros to 500,000 euros.

Iwoca achieved net profitability in the fourth quarter of 2022. Christoph Rieche and his English business partner James Dear founded the fintech loan provider in 2012, followed by its market entry in Germany three years later. According to Iwoca, it has since enabled companies to access loans with a total volume of four billion euros.