EMBARGOED 10:00 09.01.14 Small business lender, iwoca, buoyant after securing £5million funding from leading investors Global Founders Capital (“GFC”), the new private investment fund founded by the Samwer brothers, and Redline Capital Management S.A., a Luxembourg asset management company acting for Redline Capital Fund (“Redline”), led the equity and debt funding round. All existing investors […]
iwoca and ekmPowershop partner up to fuel e-commerce growth
iwoca, the only UK-based provider specialising in funding for online retailers, has launched a new integration with Europe’s leading shopping cart provider, ekmPowershop.
The collaboration with ekmPowershop will grant 12,000 UK merchants quick and easy access to funding, fuelling ecommerce growth further. Iwoca will use real-time sales and transaction data from the ecommerce provider to assess a business’ loan application.
The partnership is the latest innovation for iwoca who already partner with a number of platforms, including Pay Pal, Ebay, Sage Pay and notonthehighstreet.com.
The latest integration will allow iwoca to further evolve the business-lending sector and move towards a fully automated lending model.
Christoph Rieche, iwoca CEO and co-founder, said:
“This is another milestone for iwoca that manifests our commitment to find innovative ways to channel financing to e-commerce merchants, and further grow and support the industry. This partnership gives 12,000 merchants in the UK access to the financing they need to grow their business. A real achievement for the merchant, ekmPowershop and us.”
Steven Hickey, ekmPowershop’s Head of Business Development commented:
“Powering thousands of online SMEs, we see the struggles they face with obtaining funding and cash flow whilst competing with the bigger, more established brands. iwoca offers a credible source of funding to businesses who don’t always get what they need from high street banks, so we’re happy to be partnering with them”