iwoca, a European SME lender, has partnered with Teya, an all-in-one financial services platform for SMEs, to offer its Flexi-Loan solution to more business owners and integrate into Teya’s digital platforms.
Teya customers can now apply for iwoca’s loan within their Teya app or web portal. The sums available are from GBP 1000 to GBP 1 million, with flexible terms from 1 day up to 60 months. Businesses apply digitally with zero early repayment fees, with approved funds typically landing within minutes, in a completely paperless process.
Increasing access to working capital for SMEs
iwoca is a European fintech that provides fast, flexible finance to help small businesses manage cash flow and grow. Its mission is to finance one million businesses through technology, data, and trusted service.
The move comes as the demand for fast and convenient finance grows among SMEs in the UK. iwoca’s SME Expert Index shows that 73% of SME finance brokers believe that faster decisions are their clients’ top priority. This is why the company enables UK businesses to access working capital without excessive bureaucracy. iwoca’s SME Expert Index also reveals that 76% of UK finance brokers predict SMEs’ demand for financing will rise in the coming months.
iwoca and Teya aim to tackle this challenge and embed fast and flexible lending directly into everyday business finances. This will help close the funding gap and support entrepreneurs across the UK. Teya mentioned that the collaboration is a key step in its goal to further contribute to financial services for SMEs, including payments, accounts, or funding. The company’s mission is to offer business owners the tools necessary thy need to scale and grow without unnecessary complexity. Teya shares iwoca’s belief that SMEs deserve fast and uncomplicated access to the finance they need to grow. Joining forces, the two companies can reach more businesses and ensure the capital is available where it's needed the most.
