Xero partners with iwoca in successful bid to improve lending for SMEs in the UK
Summary
This morning, we were delighted to hear the news that iwoca, one of our longest standing alternative lending partners, received a grant of £10 million from the Banking Competition Remedies’ (BCR) Capability and Innovation Fund. It will enable us to lead UK market research to identify customer pain points in existing SME finance offerings, and collaborate with iwoca to find better answers. We recently found that two-fifths of small business owners said that the state of cash flow caused them sleepless nights. When you combine the Xero platform with our network of accountants, it becomes easier for partners like iwoca get the insight they need to make the right credit decisions – always with customer consent, dramatically shortening and streamlining the process of applying for and receiving finance. By working closely with iwoca over the coming years, our aim is to level the playing field for small businesses.
Classifications
AskAI Classifications
LabelsLinked Companies
