iwoca Lends £1 Billion to SMEs in UK and Germany

Digital lender iwoca announced it has originated approximately £1 billion in loans to small and medium-sized businesses (SMEs) across the UK and Germany. The company operates in a market estimated to comprise 9 million SMEs, with an addressable unsecured lending stock valued at £400 billion.

"There’s huge room to grow," stated Jason Roomer, Head of Investor Relations at iwoca, in an interview with CB Insights. He described the company's strategy as addressing both served and unserved demand within the SME lending sector.

Iwoca's focus is on providing business loans, and the company seeks to further expand its offerings within these key European markets. The figures suggest a significant portion of the potential market remains untapped by current lending services.