iwoca
London lender with Flexi-Loan finance from GBP 1,000 to GBP 1 million
Quick Overview
| Company | iwoca Ltd |
|---|---|
| Category | Business Lending Platforms |
| Headquarters | London, United Kingdom |
| Founded | Not stated |
| EU Presence | Yes - United Kingdom (FCA registered for payment services) |
| Data Location | not stated on the pages we read |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | Flexi-Loan, business credit card, iwocaPay, no credit score impact when applying, no minimum term |
| Pricing | Representative APR shown on the homepage; the pricing page states no hidden fees and no minimum terms; rates vary with loan size and duration |
| Best For | UK small businesses that want a flexible loan or credit line with a stated size range |
| Replaces | BlueVine Line of Credit, BlueVine Term Loan |
Detailed Review
iwoca Ltd is a UK business lender registered in England and Wales under company number 07798925. The registered office is 10 Queen Street Place, London, and the main trading address is 1 Bedford Avenue, London. iwoca Ltd is registered with the Financial Conduct Authority under the Payment Services Regulations 2017 (reference 791804).
The iwoca homepage describes finance from GBP 1,000 to GBP 1 million under the name Flexi-Loan. The product menu also lists a business credit card and iwocaPay. The homepage states that applying will not affect your credit score.
What iwoca offers small businesses
iwoca lists three products in its menu: a business loan, a credit card and iwocaPay. The business loan is marketed as the Flexi-Loan, with amounts from GBP 1,000 to GBP 1 million.
The iwoca credit card is issued by Enfuce UK Limited, which is authorised by the FCA as an electronic money institution. iwoca states its own role in the card programme in clause 3 of the Enfuce terms.
How iwoca explains its pricing
iwoca states on its pricing page that it does not charge hidden fees or tie customers to minimum terms. The page explains that rates vary with loan size and duration.
iwoca publishes a representative APR on its homepage. The pricing page defines representative as a rate that at least 51% of new customers are expected to receive or better. The pack we read does not show the percentage itself.
iwoca as a European alternative to BlueVine
iwoca contracts under English law with an English company, while Bluevine Inc. points to California law and courts. iwoca lends in pounds to UK businesses.
BlueVine pairs lending with business checking and bill pay in one US account. iwoca is a lender, and the pages we read show no current account.
Limitations to Consider
iwoca serves UK businesses and the pages we read do not describe lending to US companies. The pack does not show a representative APR figure, hosting location or the card's credit limits. For a lender that also gives a card and a credit line, compare Funding Circle.
Who Should Use iwoca
UK limited companies and sole traders that want a flexible loan between GBP 1,000 and GBP 1 million and prefer a lender with published pricing principles.
Pros and Cons
Pros
- Stated loan range from GBP 1,000 to GBP 1 million
- Pricing page states no hidden fees and no minimum terms
- Applying does not affect the credit score, per the homepage
- Company number and FCA reference published
- Credit card and iwocaPay sit next to the loan
Cons
- Representative APR figure not in the text we read
- UK businesses only, as far as the pages show
- No business current account listed
- Hosting location not stated
Alternatives to iwoca
Other European business lending platforms worth comparing before you decide:
See all European business lending platforms or compare them directly against BlueVine Line of Credit on our alternatives page.
Frequently Asked Questions
Yes for UK businesses. iwoca Ltd is registered in England and Wales and lends from GBP 1,000 to GBP 1 million. BlueVine is run by Bluevine Inc. under California law.
iwoca states finance from GBP 1,000 to GBP 1 million on its homepage. The product is called the Flexi-Loan, and the menu also lists a credit card and iwocaPay.
The iwoca pricing page states that it does not charge hidden fees or tie customers in with minimum terms. Rates vary with loan size and duration.