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iwoca Launches in Spain to Meet Demand for Small Business Financing

iwoca Launches in Spain to Meet Demand for Small Business Financing

Venture-backed fintech start-up iwoca has started offering credit to the two million small businesses in Spain, further expanding its international reach. iwoca’s proprietary risk engine makes lending decisions based on data taken from business bank accounts, payment processors, ecommerce platforms and sector-specific providers. This allows it to assess the millions of small businesses currently neglected by the banks, and offer them fast and flexible access to finance. Since 2012, iwoca has lent almost £30 million across 5,000 transactions in the UK and Poland. The launch of iwoca Spain is further evidence of the growing global need for alternatives to traditional business finance providers.

Credit Risk & Scoring