NIBC Bank has taken an interest in IWOCA, a fintech company that provides loans to small businesses and has been a NIBC customer since 2017. The Hague investment bank has also increased existing financing to accelerate growth at iwoca.
No financial details have been brought out. With the cooperation NIBC reinforces its investment portfolio in the technology sector. Also, iwoca is so supported in its mission to make small businesses flourish.
The fintech company has existed since 2011 and, based on its own technology and its own data platform, provides small businesses with working capital and loans, in a market where the total value of bank debt products for small businesses is shrinking. According to NIBC, IWOCA has funded more than 25,000 small European companies in Great Britain, Germany and Poland.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email email@example.com