Business lender Iwoca rakes in £150m financing from Augmentum Fintech and NIBC

Past backers have included Etsy investor Acton Capital Partners and the venture arm of Commerzbank, neither of which chose to follow on their investments in Iwoca’s series D. Chief executive Christoph Rieche said the lender is "on track" to fund 100,000 businesses in the next five years, having funded just over 25,000 firms since it launched in 2012. “As an SME lender, Iwoca is unique for its scale in both the UK and Germany," said Augmentum Fintech chief executive Tim Levene.

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