SME Finance Forum member Intesa Sanpaolo, has partnered with SME lender iwoca to provide clients with credit products that will help SMEs obtain financing. The partnership coincides with an investment in iwoca by Neva Finventures, Intesa Sanpaolo’s fintech venture capital arm.
Maurizio Montagnese, chief innovation officer at Intesa Sanpaolo, says that the “industrial synergies” between the firms “could be significant in the coming years” and allow it “to enter segments of the market not served by other banks."
Since its launch in 2012, Iwoca says it has lent more than £200 million across 28,000 transactions. According to the firm, it has worked with 10,000 businesses across the UK, Poland, Spain and Germany.
