Fintech start-up iwoca has completed a GBP21.4 million Series C round led by Prime Ventures with existing investors Acton Capital Partners and CommerzVentures.
iwoca has also secured a GBP25 million debt facility through Shawbrook which will help the provider of flexible credit facilities to SMEs to further accelerate its loan book growth.
Talis Capital was an early backer of iwoca through its seed round in 2012 and has supported the two founders, Christoph Rieche and James Dear.
“It has been a pleasure to work with iwoca as one of its earliest board directors and it has validated our approach of identifying early trends through detailed market research. We will aim to continue to develop our Fintech speciality by searching for similar start-ups with strong management and viable commercial models,” says Vasile Foca, co-founder of Talis Capital.
“iwoca has grown so fast not only due to its technological advantage, but also due to its ability to remain relevant in a rapidly changing sector. Hence, by retaining its original innovative edge, we expect iwoca to continue to provide much needed change to the Fintech sector,” adds Matus Maar, co-founder of Talis Capital.
