iwoca provides German‑registered small businesses and self‑employed entrepreneurs with digital loans up to €500,000 that can be applied for in about five minutes online. Using automated credit analysis, the platform delivers a decision within 24 hours and disburses funds to the business’s bank account within 48 hours, with daily‑accrued interest starting at 1 % per month and no fees for early repayment. Customers can choose a fixed‑term installment loan or a revolving credit line, both offering flexible repayment and the ability to request top‑ups after partial repayment.
Funding
Funding not disclosed
Founders
Product
Problem
Small and medium-sized enterprises (SMEs) in Germany often face lengthy, paperwork‑heavy loan processes with traditional banks, making it difficult to obtain quick financing for short‑term needs such as inventory purchase, modernization, or cash‑flow gaps.
Solution
iwoca offers digital SME loans up to €500,000 that can be applied for in five minutes online. Using automated credit analysis and Open Banking data, the platform provides a decision within 24 hours and disburses funds directly to the business’s bank account, typically within 48 hours. Interest rates start at 1 % per month and are calculated on a daily basis, with no fees for early repayment or loan setup. Customers can choose between a fixed‑term Flexi‑Kredit (installment loan) or a revolving Flexi‑Rahmenkredit (credit line) that accrues interest only on the drawn amount. The service is available to any German‑registered company with at least two months of operation and €22 k annual turnover, without requiring collateral (except a personal guarantee for corporations).
Target Audience
iwoca serves German‑registered small businesses and self‑employed entrepreneurs across sectors—such as retail, hospitality, services, and online commerce—who need fast, flexible financing for working‑capital, inventory, or investment projects.
Features
- Fully online application completed in ~5 minutes with document upload or Open Banking data transfer
- Credit decision within 24 hours and fund transfer to the business account within 48 hours
- Daily‑accrued interest rates ranging from 1 % to 2.99 % per month, no setup or early‑repayment fees
- Two product options: Flexi‑Kredit (fixed‑term installment loan) and Flexi‑Rahmenkredit (revolving credit line with interest only on drawn amount)
- Flexible repayment: free pre‑payments at any time and the ability to request credit line top‑ups after partial repayment
- No impact on the borrower’s Schufa score for the credit inquiry; only hard entries occur after disbursement
- Transparent loan limits up to €500 k and terms up to 60 months (24 months for amounts below €25 k)