Introduction
On this episode of Ascentis TV, we speak with a lending company called Iwoca. The founders, both former bankers at Goldman Sachs and Deutsche Bank, noticed a gap in the market for small business lending. They formed a team and created a lending service that provides quick access to finance for small businesses.
Initially, the company focused on lending to e-commerce companies such as eBay and Amazon sellers, but they have expanded to lending up to 200,000 pounds over 12 months to any small business. So far, they have lent over 1 billion pounds to more than 50,000 small businesses.
They also talked about Iwoca’s new product, Iwoca Pay, which addresses the issue of late payments and online payment friction. Many businesses experience late payments, with over a quarter struggling to pay their suppliers as a result. Iwoca Pay offers online checkouts in invoices, giving buyers the option to pay now or later and streamlining the payment process with open banking. This new product will help small businesses save time and focus on growing their businesses.
It’s worth watching to learn about how Iwoca is providing quick access to finance for small businesses and how their new product, Iwoca Pay, aims to solve the issue of late payments and make payments online easier for businesses.
It was great to learn more about Iwoca and we’re excited to see them grow in the market.
About Ascentis TV
Ascentis TV is our update show that gives business leaders updates and insights on various growth-related topics such as taxation, financial management, people management and much more. The show features our amazing experts from Ascentis who have many years of experience in helping businesses grow successfully and helping individuals achieve their personal vision of success.
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