UK small and medium-sized enterprise (SME) lender Iwoca is reportedly exploring a potential sale, according to Reuters sources familiar with the matter.
The London-based fintech, whose backers include Citi and Barclays, has been consulting with advisers about a sale process that could commence early next year. According to sources, the transaction could value the company at more than £1 billion, with banks and payments companies identified as potential acquirers.
Sources caution that discussions remain at an early stage and a sale may not proceed. The Reuters report also indicates that Iwoca is considering a public offering as an alternative, though no details were provided regarding timing or listing location.
Iwoca declined to comment when approached by FinTech Futures regarding the report.
Founded in 2012 by CEO Christoph Rieche and James Dear, Iwoca provides business financing ranging from £1,000 to £1 million alongside trade credit facilities from £150 to £30,000, offering approval within 24 hours. The company employs over 600 people and claims to have served more than 50,000 customers.
Iwoca has secured over £1.5 billion in debt funding to support its lending operations, including a £200 million debt package from Citi and Waterfall Asset Management, completed in late 2024.
Source: https://www.fintechfutures.com/
