iwoca secures $340m funding facility to expand SME lending

By Milan Rojan

iwoca has secured a $340 million debt facility from a leading UK bank and Waterfall Asset Management to expand its lending capacity and support growing demand for finance from small businesses across the UK.

Romain Guilleminet, Head of Capital Markets at iwoca, said: “This facility means we can offer more businesses the kind of support they’re looking for, backed by some of the best institutional partners in the market. Together we can make a real difference to UK businesses.”

The new funding structure has enabled iwoca to provide additional capital to SMEs looking to scale operations, invest in equipment and pursue growth opportunities. The facility has been designed to expand further as lending demand increases.

James Cuby, Partner and Head of Europe at Waterfall Asset Management, said: “We are excited to extend our funding relationship with iwoca through this new facility, unlocking further lending capacity for UK SMEs that are chronically underserved by traditional lenders.”

The announcement has followed a period of sustained growth for the lender. Since launching in 2012, iwoca has increased the number of UK SMEs it has financed from 60,000 in 2024 to 96,000.

According to iwoca’s latest SME Expert Index, demand for larger loans has also increased. Loans ranging from approximately $68,000 to $136,000 accounted for 42% of SME loan applications in the first quarter of 2026, up from 27% during the same period a year earlier.

The facility has built on a series of debt funding rounds completed over the past two years with institutional partners including Lloyds, Citi, Barclays, Värde Partners, Pollen Street Capital and Insight Investment.

The latest funding has strengthened iwoca’s ability to expand access to flexible financing as demand for SME credit continues to grow.