iwoca secures 185 million euros and expands its SME refinancing in Germany to over 560 million euros

The German-British fintech company iwoca is expanding its refinancing options for the German market by 185 million euros. The new credit line is being provided by the Dutch bank ABN AMRO and Neuberger. This brings the total amount of refinancing lines available to the digital SME lender in Germany to more than 560 million euros. The company now serves nearly 13,000 active loan customers in Germany and has more than doubled its German loan portfolio within a year. The loan portfolio is expected to grow to one billion euros by 2028.

ABN AMRO and Neuberger Provide New Credit Line

iwoca is expanding its refinancing base for its German operations by an additional 185 million euros. The new financing is provided by ABN AMRO as the senior lender and Neuberger as the provider of capital for the mezzanine tranche. In this type of financing structure, the participating lenders assume different risk positions. Senior financing is repaid first in the event of repayment, while mezzanine capital is subordinated and therefore carries a higher risk. The funds will be used to refinance the lending business. This is therefore debt capital intended to finance corporate loans and not an equity round for iwoca. With the additional credit line, the refinancing volume available for Germany increases to over 560 million euros. iwoca plans to use this to further expand its lending to small and medium-sized enterprises. At the same time, the fintech company is expanding its network of institutional refinancing partners to include another European commercial bank.

German loan portfolio has grown to nearly 400 million euros

The new refinancing follows a period of significant growth in the German market. According to iwoca, the loan book has more than doubled over the past twelve months. The outstanding loan portfolio currently stands at just under 400 million euros. As a result, the company now serves approximately 13,000 active loan customers in Germany. The additional refinancing is intended to enable the company to expand its loan exposure to nearly 600 million euros. Fabian Platzen, General Manager of iwoca Germany, highlights in particular the short-term financing needs of small and medium-sized enterprises. Many businesses need additional liquidity to purchase goods, finance growth investments, or bridge timing gaps between expenses and incoming payments. Digital lending solutions are designed to enable faster and more flexible financing in these situations.

Digital Financing for Small and Medium-Sized Enterprises

iwoca focuses on providing loans to small and medium-sized enterprises that need working capital or additional liquidity. The provider positions itself as an alternative to—or a complement to—traditional bank loans. Smaller businesses, in particular, often have financing needs that differ from traditional loan offerings in terms of term, loan amount, or speed. Digital application and review processes are designed to help make financing decisions faster and reduce administrative burdens. With the new credit line, iwoca can refinance additional loans in the German market. ABN AMRO is providing senior financing for a diversified portfolio of German SME loans. Adriaan Wessels, Executive Director of Structured Finance at ABN AMRO, views such offerings as a complement to traditional corporate financing.

Group Revenue Rises 56 Percent in 2025

At the group level as well, iwoca reports significant growth. In fiscal year 2025, revenue for the company—which operates in the United Kingdom and Germany—rose by 56 percent to 366 million British pounds. This amounts to approximately 426 million euros. In the previous year, iwoca had generated revenue of 234 million pounds, or approximately 270 million euros. The German business accounted for approximately 41 million euros in revenue in 2025. The company expects a further significant increase here in 2026 but does not provide a specific revenue forecast. In addition to revenue, new lending activity also increased. The volume of loans granted to small and medium-sized enterprises rose to approximately 1.7 billion euros in 2025. In the previous year, the figure had been approximately 1.11 billion euros. According to its own figures, iwoca has disbursed a total of around 7 billion euros to companies in the United Kingdom and Germany since its founding. The loan volumes mentioned should be distinguished from the fintech company’s revenue.

Germany Is Becoming a Key Growth Market

While iwoca has been active in the UK for several years, its German business is becoming increasingly important. The company sees further growth potential here in financing small and medium-sized enterprises. The new refinancing line is intended to help meet rising demand and further expand the loan portfolio. The partnership with ABN AMRO and Neuberger complements the existing capital base. For a lender like iwoca, access to long-term refinancing is a key factor for growth. As lending increases, so does the capital required to finance outstanding receivables. The additional credit line creates further capacity for this purpose. However, its actual utilization depends on credit demand, risk assessment, and the agreed-upon financing terms.

One Billion Euros in Loan Portfolio Planned by 2028

iwoca has set ambitious goals for the German market in the coming years. By 2028, the loan portfolio is expected to grow from its current level of just under 400 million euros to one billion euros. At the same time, the company plans to increase the number of active German loan customers from around 13,000 to between 30,000 and 35,000. This would significantly expand both the outstanding loan volume and the customer base. The new €185 million refinancing round is a key component of this growth strategy. Whether these goals are achieved depends, among other factors, on loan demand, refinancing costs, and the development of default risks among small and medium-sized enterprises. With the additional funds, iwoca now has a broader financing base to further expand its position in the German market for digital business financing.