Iwoca CEO talks 15 years running a fintech, SME financing, and possible sale
“I will never forget it," says the long-standing CEO and co-founder of UK small business lender Iwoca, describing his meeting with one of the high priests of the European venture capital world. Christ...
Christoph Rieche, a long-standing CEO and co-founder of UK small business lender Iwoca, reflects on his 15-year tenure steering the company. Rieche met Neil Rimer, co-founder of Index Ventures, during a 2010 meeting in Geneva. Rimer revealed that his fund had just invested in Iwoca's predecessor, Funding Circle, which kick-started Rieche's venture.
Iwoca, which launched in 2012, offers SME loans ranging from £1,000 to £1 million and has grown rapidly, with loan origination doubling to £1.5 billion in 2025. The company has doubled its profits to £113 million in the same period and benefits from partnering with challenger banks like Starling. Despite rumors of a potential sale, Rieche says Iwoca is not seeking liquidity and remains focused on its strategy.
The company has recently expanded its product portfolio, offering a credit score product, business credit card, and an M&A platform. Iwoca was placed under an asset freeze due to a Russian sanctions issue but has since resolved the problem.
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