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Iwoca grows lending business with $112M in debt financing

Bank Innovation

We have seen considerable growth in the [German] market,” said Oliver Schmid, general manager of Iwoca. Iwoca, a London-based small business lender, announced a debt financing round of 100 million euros ($112 million) last week to fund new loans in Germany.? “We

Lending 300
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Iwoca grows lending business with $112M in debt financing

Bank Innovation

We have seen considerable growth in the [German] market,” said Oliver Schmid, general manager of Iwoca Germany. Iwoca, a London-based small business lender, announced a debt financing round of 100 million euros ($112 million) last week to fund new loans in Germany.? “We

Lending 221
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Weekly Wrap: Banks tackle crisis CX and stand-alone brands

BankInovation

This week, Bank Innovation took a look a Verint report that ranked some of the country’s biggest banks based on their crisis customer experience during the COVID-19 pandemic. Smaller banks, meanwhile, are pursuing stand-alone brands despite the fact that bigger banks have stumbled with their own digital offshoots.

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Amazon’s banking efforts ‘should worry traditional incumbents’

BankInovation

Banks should be paying attention as Amazon continues to experiment in payments, insurance, cash deposits and lending, according to CB Insights’ “Everything You Need to Know About What Amazon Is Doing in Financial Services” report.

Lending 75
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Weekly Wrap: Truist’s co-development focus and MUFG’s new partnership

BankInovation

Point-of-sale (POS) lending continues to make headlines. ChargeAfter, a POS lending startup, announced this week it is looking to expand its partnership with the Japanese banking giant MUFG.

Lending 64
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Startups seeing increased digital engagement during coronavirus crisis 

Bank Innovation

As the novel coronavirus continues to keep consumers inside their homes, startups that offer digital-only products are experiencing a wave of new customers and engagement. “The The social distancing that’s taking place lends itself perfectly to our business model,” said Kerim Derhalli, CEO of the stock trading app Invstr. “It

Lending 66
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Weekly Wrap: SBA loans, SoFi and Galileo take center stage

Bank Innovation

As COVID-19 continues to rattle the economy, startups are launching new products and features to engage customers. One week after the Small Business Administration launched its Paycheck Protection Program, banks and fintechs alike are still navigating best practices to get funding into the hands of small business clients.

Fintech 369