Commerzbank's venture capital unit has contributed to a $20m series B round for short-term business loans provider Iwoca, which is also backed by Beyond Digital.
Iwoca, a UK-based provider of short-term business loans, secured $20m in series B funding on Thursday from investors including CommerzVentures, the corporate venturing unit of financial services firm Commerzbank.
Venture capital firm Acton also invested, while several of Iwoca’s existing backers also returned to participate in the round.
Founded in 2012, Iwoca enables companies to apply for a short-term loan online through a platform that analyses business performance before granting a loan and transferring the money within a few hours.
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