{"id":44231,"date":"2014-10-20T09:24:49","date_gmt":"2014-10-20T08:24:49","guid":{"rendered":"http:\/\/startups.co.uk\/startups-awards\/?p=44231"},"modified":"2021-05-18T16:35:42","modified_gmt":"2021-05-18T15:35:42","slug":"peoples-champion-finalist-iwoca","status":"publish","type":"post","link":"https:\/\/startups.co.uk\/startups-awards\/peoples-champion-finalist-iwoca\/","title":{"rendered":"People\u2019s Champion Finalist: iwoca"},"content":{"rendered":"
<\/a> <\/div>\n

Start-up name:<\/b> iwoca
Founder:<\/b> Christoph Rieche, 34, James Dear, 33
Started in:<\/b> 2012
Based in:<\/b> London
Business description:<\/b> Small business finance provider<\/p>\n

\"iwoca-logo-transparent-background\"<\/a>The iwoca story:<\/h4>\n

Seeking a challenge, iwoca’s founders Christoph Rieche and James Dear decided there was ample opportunity to disrupt the small business finance space further – and iwoca was born.<\/p>\n

Turning their backs on careers at Goldman Sachs and Deutsche Bank, CEO Rieche and CTO Dear – a PhD in Theoretical Physics and Applied Probability – launched iwoca in March 2012. <\/p>\n

In a short space of time iwoca has established itself on the burgeoning FinTech scene and has already lent millions of pounds to small and growing companies across the UK.<\/p>\n

With more than 30 members of staff and £7m of capital raised, iwoca has expanded overseas launching iwoca Poland earlier this year, with France, Spain and Germany set to follow.<\/p>\n

So what makes the company different? The company’s entry states: “iwoca’s innovative approach to lending is accurate, fast and scalable and has broadened access to business finance to a new generation of micro businesses.”<\/p>\n

Within hours of an application iwoca’s data-driven risk model and easy-to-use front-end means loans of up to £50,000 can be processed, ensuring small business customers have fast access to vital funds to supplement their working capital.<\/p>\n

It achieves this through integrating with cloud-based payment systems and accountancy software, such as PayPal, SagePay and FreeAgent and analysing company financials, personal and business credit reports, and even social media. These ‘data points’ amount to a scorecard and enable the technology to make assessments and grant approval of a loan in minutes.<\/p>\n

Its technology also has built-in compliance and fraud checking, use of electronic signatures to accept loan agreements, and the ability to return for top-up loans without the need for further documentation or form-filling.<\/p>\n

It has led to “exceptional customer feedback collected via the independent review site Trustpilot”, where it has a score of 9.7 out of 10.<\/p>\n

Picked out by Startups.co.uk and named as one of the top 20 start-ups to launch in 2012, iwoca has gained recognition elsewhere too, making respected lists such as Accelerate 250 and winning Wired Money’s Startup Pitch Stage in 2013.<\/p>\n

Why iwoca made our 50:<\/h4>\n

The FinTech space is highly congested with an exciting variety of alternative finance providers giving small businesses other options – and yet iwoca stands out. We can’t share financials, but they’re impressive and with its proprietary technology and strong founding team iwoca was a shoo-in for our 50.<\/p>\n

Where to find out more about iwoca:<\/h4>\n

Website: www.iwoca.co.uk<\/a> 
Twitter: https:\/\/twitter.com\/iwoca<\/a> 
Facebook: https:\/\/www.facebook.com\/iwoca<\/a><\/p>\n

<\/a><\/p>\n\n","protected":false},"excerpt":{"rendered":"

  Start-up name: iwocaFounder: Christoph Rieche, 34, James Dear, 33Started in: 2012Based in: LondonBusiness description: Small business finance provider The iwoca story: Seeking a challenge, iwoca’s founders Christoph Rieche and James Dear decided there was ample opportunity to disrupt the small business finance space further – and iwoca was born. Turning their backs on careers […]<\/p>\n","protected":false},"author":91469,"featured_media":44387,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[126,204],"tags":[],"class_list":["post-44231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finalists","category-finalists-2014"],"acf":[],"yoast_head":"\nPeople\u2019s Champion Finalist: iwoca - Startups.co.uk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/startups.co.uk\/startups-awards\/peoples-champion-finalist-iwoca\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"People\u2019s Champion Finalist: iwoca - Startups.co.uk\" \/>\n<meta property=\"og:description\" content=\"  Start-up name: iwocaFounder: Christoph Rieche, 34, James Dear, 33Started in: 2012Based in: LondonBusiness description: Small business finance provider The iwoca story: Seeking a challenge, iwoca’s founders Christoph Rieche and James Dear decided there was ample opportunity to disrupt the small business finance space further – and iwoca was born. 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