In October 2023, iwoca announced that it had secured a new funding line to offer SME loans. Credit: kenary820/Shutterstock.

UK small business lender iwoca has partnered with Countingup, a business account provider, to offer nearly 10,000 users streamlined access to business finance.  

This collaboration integrates iwoca’s Flexi-Loan product directly into the Countingup app through an application programming interface (API).  

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

It is expected to simplify the loan application process for small and medium-sized enterprises (SMEs) by leveraging Countingup’s data and user interface. 

During a trial phase, data suggested that 70% of Countingup’s first group of customers applying for finance through iwoca received a loan decision within one hour.  

iwoca partner channel manager Harry Cranfield said: “Through our industry-leading API integrations for business lending, we have enabled over 30 partners to provide finance within their platforms. 

“Our latest collaboration with Countingup brings us another step closer to that reality. Access to fast and flexible finance not only enhances cash flow management for SMEs but also fuels their ability to seize opportunities – making their business and the economy stronger as a whole.” 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Countingup head of marketing Rory Bocock said: “Our collaboration with iwoca represents a big step forward in our mission to automate and simplify finances for the UK’s self-employed. The seamless integration of iwoca’s flexible business loans within our app complements our finance, accounting and tax features – empowering self-employed individuals to confidently run their business.” 

In October 2023, iwoca announced that it had secured a new funding line with initial commitments of £200m from Barclays and Värde Partners.  

Early last year, iwoca secured an increase and extension to its existing funding line with Pollen Street Capital. The funding line was expanded from £125m to £170m.