Through this partnership, Intesa’s customers across Italy, Eastern Europe, the Middle East and North Africa, will gain access to iwoca’s market lending platform for SMEs. The strategic partnership coincides with an investment in iwoca by Neva Finventures, Intesa Sanpaolo’s fintech venture capital arm.
According to iwoca’s co-founder and CEO, the company supports over 10,000 small business with operations across the UK and mainland Europe.
The company is an alternative lender that tries to cover the gap between traditional banks and small business lending. iwoca has recently partnered with PayU to provide lending options for Poland-based SMEs. Up to date, the company has lent over GBP 200 million across 28,000 since launch in 2012.
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