NC Company Overview
iwoca is a financial services company that arranges loans for small businesses in the UK. It offers lending solutions for situations where businesses want money for stock or investments, or to improve their business cash flow. Decisions on lending are made by advanced technology that uses more than just a credit score but actually bases its risk calculations on the performance of the applicant business, too. This can make iwoca an option for some businesses who may not be able to access other competitive loans. It also allows iwoca to make fast lending decisions, and funding can usually be with the customer within hours of approval. The company has clients in a wide range of sectors, including restaurants, retailers, online businesses, trade businesses, hotels, beauty salons, and many more.
iwoca, based in London, UK, was founded by entrepreneurs Christoph Rieche and James Dear in October 2011.
As of May 2019, iwoca offer funding ranging from £1k to £200k GBP. The business has provided funding of over £500 million GBP so far, to thousands of UK SMEs. It has received a very high customer satisfaction rating, with its rating on consumer site Trust Pilot at 9.7 out of 10, with thousands of reviewers.