|By PR Newswire||
|January 2, 2013 11:33 AM EST||
LONDON, January 2, 2013 /PRNewswire/ --
iwoca, a UK based company which provides instant loans to online retailers to improve their working capital, today announced a funding round of £2m from Beyond Digital Limited, advised exclusively by Talis Capital Limited, a London-based multi-family office. Since launching in March 2012, iwoca has already lent out in excess of £1m to its customers since their launch in March 2012. Online marketplaces, such as eBay and Amazon, are experiencing double digit growth globally, with the UK as one of the fastest growing markets with the highest ecommerce spend per head.
Vasile Foca, director and co-founder of Talis Capital said, "iwoca has developed a highly integrated proprietary platform, using big data to provide high resolution credit scoring of ecommerce traders, which we believe makes this a very scalable business in a rapidly growing market."
Matus Maar, director and co-founder of Talis Capital added, "The market opportunity in next generation lending, using different and new data sources, combined with an experienced and talented management team, is an exciting proposition."
Christoph Rieche, CEO and co-founder of iwoca said, "We are very pleased to have Talis Capital on board, and believe that their experience, combined with the funding will help iwoca grow, providing a valuable service to our existing and future customers."
Based in London, iwoca is a start-up technology company founded by experienced technology and finance professionals. iwoca helps online sellers in the UK sell more by financing their growth based on annual sales and customer feedback scores, factors that a traditional lender won't consider. In a macro environment where banks are lending less, iwoca can provide instant capital for their customers to help grow their businesses. iwoca is the 2012 The Smarta 100 winner http://www.smarta.com/smarta100/2012/iwoca and is in the 2012 Startups.co.uk Top 20 http://www.startups.co.uk/iwoca.html.
ABOUT BEYOND DIGITAL
Beyond Digital is a Jersey investment company, advised exclusively by Talis Capital, which invests globally in businesses that operate in high growth digital markets. The four key areas of focus are crowd/social media, big data & data analytics, cyber security and mobile technology.
ABOUT TALIS CAPITAL
Talis Capital is a London based multi-family office, and exclusive adviser to Beyond Digital. Talis Capital has advised on several high profile technology investments including £2m investment for Navmii (a leading provider of GPS navigation apps with over 11m registered global users), ShareTheMatch (a location based social network for football fans), $10m investment round in FuelQuest (SaaS based outsourced fuel management and tax automation solution) and led the Queremos / WeDemand.com $1m funding round (a social crowdfunding platform to promote concerts in Brazil and the US). Talis Capital also advises on a wider range of private equity and asset backed transactions, as well as technology venture capital.
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