24th Jan 2019 11:11
LONDON (Alliance News) - Augmentum Fintech PLC said Thursday it has invested GBP7.5 million in iwoca, a challenger lender to small businesses.
Since being founded in 2011, iwoca has funded more than 25,000 small- and medium-sized enterprises across the UK, Germany and Poland.
"Whilst there are many companies attempting to address SME lending, few have a credit product as advanced as iwoca. We believe their industry-leading analytics and technology set them apart from other lenders and give them a competitive advantage others will find hard to replicate," Chief Executive Officer Tim Levene said.
Augmentum Fintech shares were trading down 0.2% at 102.53 pence each.
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