iwoca
iwoca is a UK- and Germany-focused digital lender that provides unsecured working-capital loans (£1K–£1M), business credit cards, and B2B BNPL to more than 150,000 SMEs via proprietary credit-scoring technology, Open Banking data, broker channels, and embedded-finance partnerships.
- Company typePrivate
- Founded2012
- HeadquartersLondon, United Kingdom
- Headcount251–500
- GTM typeB2B
- OfferingServices
What iwoca does
iwoca is a UK-headquartered digital lending platform that provides unsecured working-capital financing to small and medium-sized enterprises (SMEs). Founded in 2011 (per firmographic fields; the about-us page references operations since 2012), the company has extended more than £4.5 billion in funding to over 150,000 businesses across the UK and Germany, and operates from offices in London, Leeds, Frankfurt, and Berlin. The product suite centers on the Flexi-Loan (revolving credit lines of £1,000–£1,000,000, terms up to 60 months, no early-repayment fees), supplemented by the iwoca Credit Card — a Visa-branded business card with 1% cashback launched in 2023 — and iwocaPay, a B2B buy-now-pay-later product offering 1-, 3-, and 12-month instalments up to £30,000. Credit Compass, a free business credit-monitoring dashboard launched in March 2026, expands the surface area beyond origination into ongoing customer engagement.
iwoca firmographics
Firmographics- Name
- iwoca
- Legal name
- iwoca Limited
- Website
- https://iwoca.co.uk
- Company type
- Private
- Founded year
- 2012
- Headcount range
- 251–500 employees
- Short description
- iwoca is a UK- and Germany-focused digital lender that provides unsecured working-capital loans (£1K–£1M), business credit cards, and B2B BNPL to more than 150,000 SMEs via proprietary credit-scoring technology, Open Banking data, broker channels, and embedded-finance partnerships.
- Ownership category
- akta.pro rank
iwoca industry classification
Industry- Product category
- SME Lending
- NAICS
- Credit Intermediation and Related Activities (522), Sales Financing (522220)
- SIC
- Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)
- akta.pro secondary industry
- BNPL for High-Ticket / Longer-Term Installments (FSAKACAN)
Keywords
Where iwoca is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
iwoca business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Business Loan Interest: iwoca earns interest on its Flexi-Loan products. Interest rates start at 1.5% per 30 days (approximately 18% APR), with a representative APR of 49%. Loans of 12 months carry no fees; longer-term loans (13–24 months) may incur a 5% fee and loans of 25+ months a 6% fee.
- Business Credit Card Interchange: iwoca issues a Visa business credit card earning 1% cashback on all spending. Revenue is generated from interchange fees on card transactions and interest charges when balances are carried (rates start at 14.99% per year, representative 35.40% APR).
- iwocaPay Transaction Fees: iwocaPay charges either a fixed percentage fee on each Pay Later transaction (when the seller absorbs the cost and offers interest-free terms to customers) or zero fee to the seller with interest charged to the customer. No subscription or setup fees are charged.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Flexi-Loan: Borrow £1,000–£1,000,000 for 12–60 months at 1.5% per 30 days |
| Transaction based/ take rate | Monthly | Business Credit Card: Up to £250,000 credit limit, 1% cashback, 42-days interest-free |
| Transaction based/ take rate | Pay-as-you-go | iwocaPay: B2B BNPL for trade customers up to £30,000 over 1, 3, or 12 months |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels8 records
iwoca product offering
Product offeringCore offering
iwoca provides fast, flexible business loans of £1,000 to £1,000,000 with terms up to 60 months through its Flexi-Loan product, complemented by a Visa business credit card offering 1% cashback and B2B Buy Now Pay Later (iwocaPay) for trade customers up to £30,000. Lending decisions are made within 24 hours using proprietary credit assessment software combined with Open Banking data, serving SMEs in the UK and Germany that cannot obtain timely financing from high-street banks.
Product overview
iwoca is a platform-plus-modules financial services company offering a portfolio of SME lending and payment products. Its core offering is the Flexi-Loan — a flexible revolving credit facility — supplemented by the iwoca Credit Card (Visa-branded, launched 2023) for business spending and cashflow management, and iwocaPay (B2B BNPL) for trade credit and buy-now-pay-later checkout. These products are connected through shared infrastructure: a proprietary credit scoring engine, Open Banking data integration, and a developer API that enables partners (Love Finance, Zempler Bank) to embed iwoca lending. Credit Compass (free credit monitoring, launched March 2026) sits alongside as a complementary tool to attract and retain SME customers. Research products (SME Expert Index, SME Impact Report) and the business marketplace (manda) round out the ecosystem.
Differentiator
Problem solved
Functional benefit
Products and services
- Flexi-Loan Flexible revolving business credit facility for SMEs in the UK and Germany, providing £1,000–£1,000,000 over 12 to 60 months with daily interest accrual, top-ups, and no early repayment fees. Designed for working capital, equipment purchases, cash flow bridging, and growth funding, with a 5-minute online application and 24-hour decision using Open Banking and proprietary credit assessment.
- iwoca Credit Card Visa-branded UK business credit card offering 1% cashback on all spending, up to 42 days interest-free, no FX/annual/late payment fees, and credit limits up to £250,000. Issued by Enfuce UK Limited (FCA authorised), with a mobile app for real-time spending tracking and credit score building.
- iwocaPay B2B Buy Now Pay Later solution for merchants, letting trade customers pay over 1, 3, or 12 monthly instalments up to £30,000, with iwoca settling merchants instantly and taking on all credit risk. Integrated into merchant checkout via API and offered in Pay Now and Pay Later modes.
- Credit Compass Free business credit monitoring platform launched in March 2026, giving UK limited companies visibility into their business credit profiles by consolidating Equifax business credit scores, credit history, financial status, and Companies House assessments in a single dashboard, with planned Open Banking integration later in 2026.
Quantifiable outcome
- UK SMEs receiving iwoca loans increase their monthly revenues by nearly 20% within a year of receiving funding
- +3 more outcomes
Companies that use iwoca
Customer profileNamed customers16 records
Segments3 records
Ideal customer profiles2 records
iwoca technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature4 records
iwoca partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Love FinancecoreLove Finance, a UK-based SME lender, partnered with iwoca to integrate iwoca's API into its platform, aiming to improve access to finance for small businesses across the UK. The collaboration enables faster and more efficient lending decisions, leveraging iwoca's technology that verifies business eligibility in real time.
- Zempler BankcoreZempler Bank partnered with iwoca to enhance access to funding for SMEs, expanding Zempler's SME financial services through iwoca's lending products.
- Enfuce UK Limitedcoreiwoca Visa credit cards are issued by Enfuce UK Limited. Enfuce UK Limited is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 993783).
Scale indicators15 records
Recent moves6 records
Expansion highlights6 records
iwoca competitors and assessment
Company assessmentDirect peers
- Funding Circle: UK-headquartered SME lending marketplace originating unsecured and secured business loans to small businesses; directly comparable to iwoca's Flexi-Loan in target segment, product structure, and digital origination model.
- OakNorth Bank: UK challenger bank specializing in SME lending with proprietary credit decisioning; serves the same underserved UK small business segment as iwoca with a similar data-driven, bespoke debt-finance approach.
- YouLend: UK revenue-based finance provider offering unsecured working capital to small businesses; closely matches iwoca's Flexi-Loan use cases and customer base with a digital, broker-and-direct distribution mix.
- Allica Bank: UK digital challenger bank focused on SMEs, providing lending and current accounts to established small businesses; competes head-on with iwoca for the same underserved SMB borrower base, albeit with a relationship-banking emphasis.
- MarketFinance: UK SME working capital platform offering business loans, invoice finance, and embedded credit via API; overlaps directly with iwoca's Flexi-Loan product and embedded-lending go-to-market motion.
- Capital on Tap: UK-based provider of business credit cards targeting small businesses with revolving credit and rewards; the closest direct competitor to iwoca's Visa business credit card within the same SME segment.
- Liberis: Global embedded SME finance platform built around revenue-based working capital and partner distribution; mirrors iwoca's combination of Flexi-Loan-style lending with embedded/API distribution similar to iwocaPay.
- ThinCats: UK alternative finance platform providing direct loans to established SMEs; serves the same small-business borrower profile as iwoca with a digital-first origination model.
Broad incumbents
- Tide: Leading UK digital business banking platform serving SMEs with current accounts, integrated lending, and partner credit products; competes for the same SMB wallet with a much broader product portfolio than iwoca's lending-led offering.
- Starling Bank: UK digital challenger bank offering business current accounts and SME lending; a broader incumbent in SME banking that overlaps with iwoca's target customers but competes across a far wider product range.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
iwoca social profiles
Digital presenceiwoca compliance and trust
Trust signalCompliance3 records
iwoca financial estimates
Financial estimateRevenue estimate
Valuation estimate
iwoca leadership team
Management profileNumber of profiles
Profiles9 records
iwoca subsidiaries and ownership
Company hierarchySubsidiaries3 records
iwoca funding detail
Funding detailFunding overview
Funding rounds19 records
Investors20 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
iwoca M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about iwoca
What does iwoca do?
iwoca provides fast, flexible business loans of £1,000 to £1,000,000 with terms up to 60 months through its Flexi-Loan product, complemented by a Visa business credit card offering 1% cashback and B2B Buy Now Pay Later (iwocaPay) for trade customers up to £30,000. Lending decisions are made within 24 hours using proprietary credit assessment software combined with Open Banking data, serving SMEs in the UK and Germany that cannot obtain timely financing from high-street banks.
Is iwoca a public or private company?
iwoca is a private company. It is classified as venture growth investor backed.
When was iwoca founded?
iwoca was founded in 2012. It employs 251 to 500 people.
Where is iwoca based?
iwoca is headquartered in London, United Kingdom, in the Europe region.
How does iwoca make money?
Three revenue lines are on record. Business Loan Interest is the primary driver. The others are business Credit Card Interchange and iwocaPay Transaction Fees.
Who are iwoca's main competitors?
Direct peers on record are Funding Circle, OakNorth Bank, YouLend, Allica Bank, MarketFinance, Capital on Tap, Liberis and ThinCats. Broad incumbents are Tide and Starling Bank.
Does iwoca have an API?
Yes. iwoca offers a public developer API (Lending API) accessible via Stoplight documentation portal. It enables partners to verify business eligibility in real time, integrate loan application processing, and access credit decisioning. Real-time eligibility verification via API integration with Love Finance. Also available: Open Banking API via Tell.money for account data access used in credit assessments. Developer documentation is at iwoca.stoplight.io/docs/lapi-uk/49a2377ef779b-welcome.
What industry is iwoca in?
iwoca's product category is SME Lending. Its primary akta.pro industry code is FSAKAMAI, Small-Dollar Short-Term Installment Loans (Non-payday), with a secondary code of FSAKACAN, BNPL for High-Ticket / Longer-Term Installments. Its NAICS code is 522 and its SIC code is 6153.