Iwoca Receives €100mn from BNY Mellon for German Expansion

UK based small business lender Iwoca secured €100mn from Insight Investment, which is owned by BNY Mellon, to dramatically increase their lending capacity in Germany; the company expects to be able to fund thousands of additional businesses; the new capital brings the total amount raised by the fintech to more than €500mn in debt and equity; “Our team is always looking for opportunities to expand our investment universe to new frontiers,” said Insight Investment’s Head of Secured Finance, Shaheer Guirguis, to AltFi. “This investment in Iwoca’s fintech loans allows us to diversify into a new sector in Europe’s largest economy and we believe it also provides our clients with diversification and high-quality cash flow streams.” Altfi

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