London-based iwoca says it has funded more than 10,000 small businesses across Europe since it was established in 2012. Its technology uses data, such as cashflow forecasts and sector-specific information, to assess a business’s risk profile and make credit decisions quickly and accurately. In October last year it raised £21m from investors including Prime Ventures and Acton Capital Partners. Under co-founder and chief executive Christoph Rieche, 37, sales, which are made up of interest and fee payments, grew to £13.2m last year. The company is aiming to support 1m small businesses within a decade.
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