iwoca achieves profitability


min read

iwoca achieves profitability

red wedge
grey wedge
yellow dot
grey line with green square
blue square

The first Friday of every month, iwocans gather together for a regular “town hall” meeting.  It’s a chance to keep everyone up to date on the company’s progress, share customer success stories, provide information on upcoming plans.  And we get to drink a beer or two.

Friday the 6th July 2018 we received some news: iwoca has reached profitability in the first half of 2018.

In the words of our CEO Christoph Rieche, “Achieving profitability demonstrates the strength and depth of our business and marks a significant milestone for iwoca.”

iwoca’s technology has always been the forefront of our business model, allowing businesses to get approved for a credit line within minutes through an online application process.

That back end has helped power our stellar customer service, and the results of that combination speak for themselves: In Q1 2018, iwoca’s credit line represented nearly 10% of UK SME overdraft approvals, according to UK Finance.

So what’s next for iwoca? Christoph also shared that  “We aim to finance 100,000 more small businesses in the UK over the next five years and to support a broader range of needs for small businesses, beyond working capital, so we intend to expand our product suite.”

We hope you’ll join us in this new stage in the iwoca journey, and can’t wait to share more good news soon.

Words by
Article updated on:
January 20, 2020

Get started

  • Borrow up to £500,000
  • Repay early with no fees
  • From 1 day to 24 months
  • Applying won't affect your credit score
Apply now
red line and yellow circle

Other finance related topics

Lorem ipsum dolor sit amet, consectetur adipiscing elit.

View all
Alternative business funding

Supply chain finance

Supply chain finance plays a crucial role in the success of businesses in the UK. It involves various financial techniques and solutions that help optimise the movement of goods and funds along the supply chain. By understanding the basics of supply chain finance, businesses can unlock potential opportunities and drive growth in the competitive market.


Management buyout

A management buyout (MBO) is a well-known strategy in the business world that allows the existing management team to take control of a company by purchasing either all or a majority of the company's shares from its current owners. In the UK, management buyouts have gained significant popularity as a means of acquiring and managing businesses.

Alternative business funding

Property refurbishment loans

In today’s competitive real estate market, property refurbishment has become an increasingly popular strategy for investors looking to maximise their returns. However, undertaking a renovation project can often require a significant amount of capital upfront. This is where property refurbishment loans come in to provide the necessary funding. In this article, we will explore everything you need to know about these loans and how they can help turn your property investment dreams into a reality.

light blue wedge

Let’s get started

Applying won’t affect your credit score

Need help? Call us:

Get approved in 24 hours

Applying won’t affect your credit score

What's next?

  • Apply in 5 minutes
  • Meet your account manager
  • Get money in the bank in hours

Need help? Call us:

No items found.