iwoca bag £5m investment for more SME loans

As you might have read elsewhere, ecommerce small business lender iwoca has had a successful round of funding and raised nearly £5m to continue its operations into 2014.

The additional money comes from existing investors in the business and GFC and Redline Capital Management.

As the release says: “Building upon a successful launch in March 2012, the online business lender will use the investment to scale its UK operations and expand internationally. The latest round of funding will allow iwoca to lend to a further 5,000 small businesses in the UK in 2014, and continue its leadership in innovative, small-business lending through extensive research and development.”

You can find the full release here.