Augmentum leads £150m debt and equity round for Iwoca

NIBC Bank and other existing investors, including Prime Ventures, also took part in the round.

The fresh capital will enable the bank to increase its portfolio of loans to small businesses in the UK, Germany and Poland.

According to a statement, Iwoca reached profitability in 2018 and doubled its revenues in each of the last three years.

Previous funding
Iwoca first received venture backing in 2013, when Talis Capital and Beyond Digital injected £2m into the firm. The following year, Global Founders and Redline provided a £5m funding round.

Acton Capital Partners and CommerzVentures then led a $20m series-B funding round for Iwoca in 2016, with Prime leading a £21m series-C the following year.

Most recently, the venture capital arm of Intesa Sanpaolo, Neva Finventures, provided the company with an undisclosed sum via further expansion round.

Company
Headquartered in London and founded in 2011, Iwoca is a provider of short-term loans of up to £100,000 to SMEs based in the UK, Poland, Spain and Germany.

People
Augmentum Fintech - Tim Levene (CEO).
Iwoca - Christoph Rieche (co-founder, CEO).

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