iwoca

Background and contacts

About iwoca

iwoca (www.iwoca.co.uk) is the only provider of short term finance to online retailers based in the UK. iwoca aims to empower entrepreneurs and to help fuel the growth of e-commerce by providing its customers with access to funding for inventory, technology, employees or international expansion. By looking directly at their sales data and customer feedback scores, iwoca can make a fair assessment of an online business.

About The Digital Newsroom

The iwcoa Digital Newsroom is a simple and useful resource for you to keep track of all the latest news stories. High resolution images and complete press releases are available to download from here, and you can connect with our various social media profiles easily. Suggestions for improvements are welcome.

Contact Details

Katie Bawler & Lauren Preece
Manifest London
t. +44 (0)203 1379 270
e. iwoca@manifestlondon.co.uk

iwoca

iwoca becomes the first alternative lender to offer £50,000 short-term loans to online retailers

Customers will still be able to choose repayment term of between one day and six months

iwoca, the only provider of short term finance to online retailers in the UK, has announced that it will now offer online retailers a maximum loan value of £50,000. The new maximum loan amount replaces iwoca’s previous £20,000 limit.

  • Customers will still be able to choose a repayment term of between one day and six months and benefit from free early repayments.
  • iwoca offers a range of funding options for online retailers of all sizes and expects the £50,000 maximum loan value to be most relevant for larger online retailers.
  • This represents a whole new category of lending, customers can receive loans of this size in a matter of hours, as opposed to waiting for weeks on bank loans.
  • In comparison to bank loans, the ease of iwoca means customers do not have to fill in details of their business plans, iwoca will look at their previous sales history to determine if they are worthy for a loan.

Christoph Rieche, CEO & Co-founder at iwoca, said:

“There are over 300,000 online retailers in the UK of all different sizes. We recognised that some of our larger customers had very specific requirements that our previous maximum loan value could not service. This new product enables us to offer an even better service that will help our customers to grow their businesses”

 

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Archive

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 […]

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IWOCA RAISES £5MILLION INVESTMENT TO FUEL UK GROWTH AND EUROPEAN EXPANSION

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 […]

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Ecommerce gets Smarta with iwoca

Smarta 100 winner, iwoca, helps online sellers save onbusiness expenses iwoca has teamed up with business network, Smarta, to help small ecommerce businesses to operate more cheaply and efficiently. iwoca will be offering 1,000 free SmartaCards, a discount card providing exclusive offers and savings for entrepreneurs, to SME ecommerce business owners. By using the card, […]

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