iwoca provides unsecured, revenue‑based business loans to UK limited companies and partnerships, offering credit up to 20% of monthly turnover (up to £1 million) with fixed interest starting at 1.5% per 30 days and no early‑repayment fees. Loans are approved within hours through an online application that uses Open Banking or uploaded statements, and can be repaid over up to 24 months with optional top‑ups and invoice financing to bridge cash‑flow gaps.
Funding
£38M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
ACC+3Founders
Product
Problem
UK small and medium-sized businesses often struggle to obtain quick, flexible financing because traditional banks require extensive paperwork, collateral, and lengthy approval processes, leading to cash‑flow gaps and missed growth opportunities.
Solution
iwoca offers unsecured, revenue‑based business loans that can be approved within hours using automated analysis of bank statements, VAT returns, and other financial data. Borrowers can access up to 20% of their monthly turnover, with limits ranging from £1,000 to £1,000,000, and repay over terms of up to 24 months. Interest is charged only on the outstanding balance at a fixed rate (starting at 1.5% per 30 days), and there are no fees for early repayment. The platform supports top‑ups, open‑banking integration, and optional invoice financing (iwocaPay) to help businesses manage cash‑flow gaps. Applications are completed online, and offers are delivered instantly, allowing businesses to draw funds directly to their bank accounts.
Target Audience
iwoca serves UK‑based limited companies and partnerships across retail, hospitality, services, and e‑commerce that need fast, flexible funding for cash‑flow management, inventory purchase, or growth initiatives.
Features
- Unsecured, revenue‑based loans up to £1,000,000 with credit limits typically equal to one month’s turnover
- Fixed interest rates starting at 1.5% per 30 days, charged only on the outstanding balance
- No fees for early repayment and no hidden charges for loans of 12 months or less
- Instant online application using Open Banking or uploaded statements, with decisions in hours
- Flexible repayment terms up to 24 months and ability to top up existing loans as the business grows
- Optional invoice financing (iwocaPay) to accelerate cash flow from customer payments
- Integration with accounting and payment platforms such as Xero, Amazon, PayPal, and Sage Pay