iwoca has bagged $20m investment for SME lending

Many of you will already know iwoca (fronted by the ubiquitous Christoph Rieche).

They are well known in the UK SME ecommerce community for their hosting of a series of excellent ecommerce meet-ups over the past few years.

They seem to be going great guns and have attracted a further $20m investment this week. The series B round is reported here.

As they say on their blog: “Since our last funding round, iwoca has helped thousands of business owners across four countries and has grown to a team of 80 – but we’re not about to stop there. This new capital will allow us to dramatically improve our product and expand our reach to millions more businesses across Europe.

We’re extremely happy to welcome on board Acton, a specialist German venture capital firm, and CommerzVentures, the investment wing of Commerzbank. We’d also like to welcome back past investors who participated – thanks for believing in us the second time around! We now have some of the smartest investors in the fintech space on our side, and we truly appreciate the access to their experience and networks.”

So what will they do with the money? Are you a happy iwoca customer?