iwoca, one of Europe鈥檚 fastest growing small business lenders, has raised an additional 拢150m in equity and debt capital.
The investment brings iwoca鈥檚 total funding to 拢350m.
iwoca鈥檚 most recent fundraising included a Series D equity round led by Augmentum Fintech, the specialist FinTech venture capital investor.
NIBC Bank and other existing investors, including Prime Ventures, also participated.
The capital raised will enable iwoca to support more small business owners across the UK, Germany and Poland.
iwoca, which featured on our FinTech 101 list last year, reached profitability in 2018, while doubling its revenue in each of the last three years.
Its award-winning technology and operations has funded more than 25,000 small businesses to date.
Christoph Rieche, co-founder and CEO of iwoca, said: 鈥渋woca continues to grow rapidly while bank lending to small companies has dwindled. We are on track to fund 100,000 small businesses in the next five years and our mission is to help one million small businesses succeed by opening up access to finance.
鈥淭his fundraise enables us to empower many more small businesses and we are excited that we could win Augmentum Fintech to join our next phase of growth.鈥�
Tim Levene, CEO of Augmentum Fintech, said: 鈥淎s an SME lender, iwoca is unique for its scale in both the UK and Germany.
鈥淭he factors that underpin iwoca鈥檚 success are difficult to achieve in combination.
鈥淲e are confident that iwoca will emerge as one of the few winners in the SME non-bank lending space.鈥�
Paulus de Wilt, CEO at NIBC Bank, said: 鈥淲e are proud to partner with iwoca, continuing to develop relationships with FinTech companies to add value and find synergies.
鈥淭his investment truly matches our core values of entrepreneurship and inventiveness, and helps us to further boost innovation.鈥�