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.

Iwocareceives €50 million in new funding capital. The German-British fintech is a financier for the self-employed, as well as small and medium-sized enterprises. The funding limit is now 193 million euros. Long-time cooperation partner Pollen Street Capital, based in New York and London, is providing the money to Iwoca.

The KUM financier is currently seeing a surge in demand for corporate loans. Higher costs and slower payments from customers are creating additional financing needs for many companies. According to the company's own figures, the total number of customers financed rose by 50 percent last year alone to a current 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 reached 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 its own information, Iwoca has since enabled companies to access loans with a total volume of four billion euros.