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iwoca

Online loans for small businesses

201-500 employees
  • Fintech
  • B2B
  • Lending
101 New Cavendish St, London W1W 6XH

Company mission

To give small business owners a great experience while getting the finance they need.

Top investors

Some candidates hear
back within 2 weeks

33% female employees

-2% employee growth in 12 months

Otta's take

Xav Kearney headshot

Xav Kearney

CTO of Otta

UK SME's are the backbone of a complex economy that is constantly changing, so the need for fast and responsive access to finance is becoming more and more important to ensure their success and growth. iwoca allows SMEs access to business loans in less than a minute, with its API and business marketplace partnerships.

With offerings like iwoca's, gone are the days where waiting up to eight weeks for a loan decision was viable. Its simplified business loans of £1,000 - £500,000 come with no fees attached, and applying online takes no more than five minutes. The ready availability of iwoca loans gives business owners a level of certainty, so that they can make instant decisions to help their business grow.

iwoca has made a number of partnerships with other players in the business finance space, including an impressive industry-first invoice checkout integration with QuickBooks. Funding raised by the company, which is now operating at net profitability, will enable it to meet a recent surge in demand for corporate loans. The company has made several billion in funding available to over 100,000 businesses since launching, positioning itself as a leading European fintech.

Benefits

  • Flexible working across all teams.
  • Twice a year we rent houses in places like Sicily and the French Alps where each team can work together for a week poolside.
  • Share options after six months.
  • Comprehensive health insurance and cash plans.
  • Gym discounts and weekly yoga classes.
  • Each floor of iwoca HQ has a fully stocked fridge for breakfast.
  • Every Friday we unwind with beers and wine.
  • Enhanced maternity and paternity leave for new parents plus a nursery benefit.
  • Unlimited unpaid leave.
  • The time and budget to invest in your professional development.

Company values

  • Motivated: Going to work shouldn't feel like a slog, so we want everyone in the team to personally care about what they're working on. We stay motivated by celebrating our wins, learning from our mistakes, and always looking for new gaps to step into.
  • Smart: At iwoca being smart isn't about what you know, it's about how you think. Smart thinking means looking at each problem by asking ‘why’ first, then figuring out ‘how’.
  • Humble: We know all ideas are flawed, all code has bugs, and everyone makes mistakes - it’s how we learn. For us, being humble means you question yourself first, rather than your team.
  • Growth Mindset: We think there's always a better way to solve a problem. So we never let ourselves get comfortable with being good enough.

Funding (last 2 of 7 rounds)

Aug 2019

$12.6m

GRANT

Feb 2019

$25.1m

SERIES D

$92.5m

Total funding

This company has top investors

Founders

7 years of experience in finance, most recently as a VP at Goldman Sachs.

James Dear

(Head of Systems & Numbers)

Previously a VP at Deutsche Bank. Has a PhD in Physics from King's College London.

People progressing

Joined as a Customer Onboarder, moved into the Broker Team and has most recently been promoted to Partnerships Manager.

Diversity & Inclusion at iwoca

  • We work hard to make iwoca a place where everyone feels welcome, where you can confidently be yourself. We understand that diversity isn't an optional add-on, it's the core ingredient of what makes us great.

Endorsements

All

Opportunities to learn (8)

Intelligent people (7)

Flexible working (5)

Career progression (4)

Nice people (4)

Open and honest communication (4)

Challenging work (3)

Supportive management (3)

Great work is recognised (3)

My opinions are valued (2)

Those who put in the effort and go above and beyond are never left unrewarded at iwoca. The team will always do their best to give great performers special mentions and recognition.

Sales & Account Management

Great work is recognised

May 2022

Iwoca have a very understanding approach to flexible working- making sure those who have reason to work from home need not stress about making frequent visits to the office. They also have a very generous work from home with office equipment policy.

Sales & Account Management

Flexible working

May 2022

The company continues to employ at a rapid rate, introduce new products, and build new internal systems to help Iwoca fulfil its full potential. This also means many employees get the opportunity to progress into different areas.

Sales & Account Management

Growing fast

May 2022

Management are mindful of individual workloads, and are flexible in their management as priorities are fluid in such a fast moving business

Operations & Strategy

Manageable workload

Jan 2022

Great opportunities available to learn from both individuals through shadowing, and teams through presentations and even secondment opportunities - L&D budgets are also available and are encouraged

Operations & Strategy

Opportunities to learn

Jan 2022

Everyone I have worked with has been incredibly helpful and friendly - as a new starter there was a lot to learn, and no shortage of people available and excited to help me get up to speed

Operations & Strategy

Nice people

Jan 2022

iwoca really cares about their people and this shows in how flexible they are around my other priorities. I play lots of sport so sometimes it works better for me to work from home on days I have a game, and sometimes I have to come in early and leave early but it's never an issue!

People, HR, Recruitment

Flexible working

Jan 2022

I've only been with iwoca a month and my manager has already talked to me about external opportunities, such as courses and apprenticeships, that iwoca would be happy to support me with.

People, HR, Recruitment

Opportunities to learn

Jan 2022

Everyone's opinion is asked for and listened to at iwoca and we're actively encouraged to get involved in discussions around company-wide projects or initiatives

People, HR, Recruitment

Flat hierarchy

Jan 2022

I feel like I could pick up my own smaller projects which enables my creativity whilst bringing value to the company.

Design

Autonomy

Jan 2022

I learnt a lot of front-end development, and there are plenty of opportunities for me to practice and implement into iwoca's website, web apps etc.

Design

Opportunities to learn

Jan 2022

Reflektive is a great opportunity to talk through what we want. We can also be open about the way we want to work, and the team would listen and integrate our needs and wants.

Design

Open and honest communication

Jan 2022

My team and colleagues are super smart ! Having started working at Iwoca just after uni, I learn a lot from everyone around me and particularly people from my team. I have definitely grown a lot since I started.

Data

Intelligent people

Jan 2022

People at Iwoca are just amazing. They are very friendly and almost everyone is always willing to help you with anything. People are also social, lots of events are organised and my colleagues are always keen to play games or grab a beer after work.

Data

Nice people

Jan 2022

Most of Iwocans are very open. Culture is something very important and I believe that one part of the culture is to accept people from all backgrounds. Since starting, the company makes it clear that inclusion is really a priority.

Data

People of all backgrounds are welcomed

Jan 2022

The company is very open to flexible working. They really care about work-life balance and ensuring you don't burn out. They want you to take time for yourself and your health needs. They offer health insurance and other health benefits such as mental health support and a discount scheme.

Design

Focus on employee wellbeing

Jan 2022

They actively encourage the sharing ideas around the team and openly praise for good work. The development is very transparent and honest and it's refreshing compared to the sometimes never ending criticism in the industry.

Design

Great work is recognised

Jan 2022

Everyone I have worked with has shown great knowledge in their field and great intelligence, both inside and outside of the professional environment. Opinions are considered and generally backed up by facts rather than simply subjective.

Design

Intelligent people

Jan 2022

You are working with extremely nice and intelligent people that really strive to improve every day and so you are spurred on to do the same. It's not a place where you can shy away from challenges. You get great support but you are expected to push yourself, adopt a growth mindset, not settle...

People, HR, Recruitment

Challenging work

Jan 2022

Iwocans love to debate. Thoughtfully challenging and disagreeing with each other is an everyday occurrence. It's uncomfortable at first but then you realise it's the best way to really test our assumptions and learn, quickly, from each other.

People, HR, Recruitment

Intelligent people

Jan 2022

It's a feedback culture and so everyone is encouraged to communicate as honestly, transparently and respectfully as possible even when it's tough or uncomfortable. This is modelled from the top down.

People, HR, Recruitment

Open and honest communication

Jan 2022

Iwoca has a growth mentality mindset, you are continuously encouraged to learn, ask questions, challenge yourself and others.

People, HR, Recruitment

Opportunities to learn

Jan 2022

At iwoca you are encouraged to ask questions and provide opinions and feedback. Different view points and ideas are encouraged to drive the business forward.

People, HR, Recruitment

My opinions are valued

Jan 2022

The people at iwoca are the friendliest and most supportive. Everyone is willing to give their time to answer questions and work together.

People, HR, Recruitment

Nice people

Jan 2022

Auto-lending is tricky stuff if you want to do it brilliantly so understanding the detail then applying it to decisions big and small is intellectually stimulating.

Operations & Strategy

Challenging work

Jan 2022

This is a smart bunch of people determined to make a difference through better understanding of risk. They know that each insight into what lending customers are looking for and what drives their behaviour makes a difference and they are tireless in seeking out those learnings.

Operations & Strategy

Intelligent people

Jan 2022

The economy is increasingly being fuelled by SMEs and they're having an impact on how we live in so many areas. Being on a mission to get those SMEs the funding they need feels relevant and positive - I'm proud that the work I do will help 1000s of businesses do the work they want to do.

Operations & Strategy

Inspiring mission

Jan 2022

The problems you'll get to tackle are often tricky and 3 dimensional- making it work for customers, the platform and the business. And on really good days, the bias is toward testing & iterating - and failing isn't terrible as long as the test was smart.

Product

Challenging work

Jan 2022

The learning opportunities are pretty much everywhere -- however, it's not necessarily always in a structured way (though that does exist). Sometimes it's learning through coaching - sometimes it's trying to figure out new problems /etc.

Product

Opportunities to learn

Jan 2022

This has been something iwoca has invested in more in recent years -- celebrating people's work, effort and commitment. Whether it's in townhalls or some shout outs, it's something that happens more and more.

Product

Great work is recognised

Jan 2022

You are actively encouraged to explore other teams if you feel it's a better fit and you are given clear target to progress in your current role. New roles can be made for you as long as you show you can work hard and are motivated to learn!

Sales & Account Management

Career progression

Jan 2022

One thing that made it so much easier to settle in to Iwoca was the team dynamic and how lovely every person was that I came into contact with. Everyone is ready to help you, from any team not just your own, and everyone is open and honest with management and other members of the teams. It makes working here so easy and enjoyable, even when the workload is hard!

Sales & Account Management

Team energy

Jan 2022

I feel that I can give any feedback to management and my team, depending on the issue it is very clear who I can go to. What I love is that good feedback is really celebrated, but also clear targets are set so that you can always improve.

Sales & Account Management

Open and honest communication

Jan 2022

I feel that the company really cares about my personal development and the things I want to learn. My manager also sets learning goals with me every quarter to make sure that I keep learning. For example, one of my goals for this quarter is to learn Python and be able to write simple notebooks to complete tasks that will help improve the efficiency of my job.

Marketing

Opportunities to learn

Jan 2022

Surrounded by really smart and friendly people at iwoca help me to constantly push myself to work on challenges and grow fast.

Marketing

Intelligent people

Jan 2022

I sometimes start early and finish early, sometimes start late and finish late. As long as the tasks can be done on time, I am never forced to work on a fixed schedule.

Marketing

Flexible working

Jan 2022

Since joining iwoca in 2019, there have been many challenges faced within the country however iwoca has always tried to make customers and staff wellbeing a priority and make intelligent decisions and policy changes. I have progressed quite rapidly in the time I have been here by taking advantage of opportunities that arise and being rewarded for this by management.

Operations & Strategy

Career progression

Jan 2022

Mostly the people. Everyone is at the top of their game and you need to be. A lot is asked of the people, but iwoca isn't afraid to give back as well. The flexibility offered to everyone also makes a big difference to the work/life balance.

Operations & Strategy

Flexible working

Jan 2022

Everyone is there to help everyone else. You won't be made to feel silly for asking a question or wanting to learn.

Operations & Strategy

Intelligent people

Jan 2022

You have a performance review with your manager every 3 months, where you reflect on your progress and receive feedback from your peers and manager. This allows you to develop really quickly and at each review, there is the opportunity to review your pay and role. There are also lots of amazing opportunities to make internal moves to other teams within iwoca, either on secondment or permanently.

Operations & Strategy

Career progression

Jan 2022

The people are great, everyone is really smart and motivated. When you first join people are also so willing to help and answer questions which makes a huge difference.

Operations & Strategy

Nice people

Jan 2022

My manager is one of the best things about working at iwoca! She is really supportive of my career development and is always there to help when I need it. She also cares about my life outside work and is always just there for a chat!

Operations & Strategy

Supportive management

Jan 2022

Everyone at iwoca is so helpful, supportive and willing you on to be the best you can be.

People, HR, Recruitment

Team energy

Jan 2022

Managers are so encouraging and supportive and make you feel like you can ask them anything at anytime and there is never a stupid question.

People, HR, Recruitment

Supportive management

Jan 2022

You are always encouraged to learn and develop and go on courses to develop your skills.

People, HR, Recruitment

Opportunities to learn

Jan 2022

Iwoca leadership values each and every contribution and strongly encourages employees to speak up and share their opinions whether that is on strategy, day to day running, or any other topic - everything is openly discussed on various public channels.

Finance, Legal & Compliance

Open and honest communication

Jan 2022

Anyone can ask questions, whether candid or very detailed, in any of our publicly accessible channels

Finance, Legal & Compliance

My opinions are valued

Jan 2022

Iwoca is serving a part of the SME lending market that no one else is really focusing on or able to do in a sustainable way - it is good to feel that what you are enabling has a positive impact on so many business owners.

Finance, Legal & Compliance

Inspiring mission

Jan 2022

It's really motivating to work alongside very smart, driven people - it helps you learn, develop and raise the bar for yourself.

Operations & Strategy

Intelligent people

Jan 2022

Throughout the pandemic, the office has been open for team members who do their best work there, and iwoca understands that other commitments do occasionally need working around.

Operations & Strategy

Flexible working

Jan 2022

Iwoca's dedication to psychological and physical well-being is excellent. The resources to promote good mental health and the robust structure of the team to cover medical or sickness leave is a big plus.

Operations & Strategy

Focus on employee wellbeing

Jan 2022

I came to iwoca with lots of experience in autonomous roles, however, what I've learnt the 2+ years of being with the company has been more impactful then anywhere else. They are constantly chances to learn & grow.

Sales & Account Management

Opportunities to learn

Jan 2022

I love taking on challenges and at iwoca you are always given the opportunity to pursue them. From projects to new roles. Whilst I have remained in the same department I've had multiple projects to lead and also received a promotion.

Sales & Account Management

Career progression

Jan 2022

This is what makes the company. From the leadership all the way down to the team leads. We have a great able management who know how to get the best out of you. I've also struggled with my mental health due to covid - the support I received and the ease at which it was given made the difference.

Sales & Account Management

Supportive management

Jan 2022

Jobs (21)

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