Funding round
iwoca Series B
iwoca, which works in business finance solutions delivery in London, raised $20M in a Series B round announced on 30 Jul 2015, led by Acton Capital and CommerzVentures. 4 firms took part. It is iwoca's first venture round on record.
$20M
Amount raised
Not disclosed
Post-money valuation
4
Investors
2 leads
Valuation
What this round says about the price
iwoca did not disclose a valuation in this round. It is iwoca's first venture round on record, 3 years after it was founded in 2012. It is 43% of the $47M iwoca has raised in the venture rounds on record. iwoca raised again 15 months later: a Series C round of $27M in Oct 2016.
iwoca's funding rounds
iwoca has 2 venture rounds on record and 5 other deals. This one is highlighted.
- Series B this round 30 Jul 2015, led by Acton Capital and CommerzVentures $20M
- Debt not a venture round 4 Oct 2016 $59M
- Series C 4 Oct 2016, led by Prime Ventures $27M
- Debt not a venture round 18 Feb 2019, led by Augmentum Fintech $193M
- Debt not a venture round 17 Oct 2023 $244M
- Debt not a venture round 7 May 2024 $339M
- Debt not a venture round 27 Jul 2026 $333M
Investors
Who put money in
Acton Capital and CommerzVentures led the round with 2 other firms.
Lead investors
- backs 35 venture-backed companies new investor
- backs 31 venture-backed companies new investor
Also in the round
- Redline Capital new investor
- Commerzbank
Joined the board: Frank Seehaus (Acton Capital Partners).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
8 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $39M, and this round was 52% of the median. The closest in time, other companies' Series B rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 17 Sep 2015 | $12M | not disclosed | Susquehanna Growth Equity |
| Loans & Financing | 17 Nov 2015 | $75M | not disclosed | Battery Ventures |
| Fundbox Loans & Financing | 19 Mar 2015 | $40M | not disclosed | General Catalyst |
| Loans & Financing | 27 Nov 2015 | $9.0M | not disclosed | not named |
| Loans & Financing | 20 Jan 2016 | $150M | $500M | Susa Ventures and DCVC |
| Loans & Financing | 13 Apr 2016 | $14M | not disclosed | Zephyr Management and Kaizenvest |
| Loans & Financing | 10 Sep 2014 | $37M | not disclosed | Xiaomi and Shunwei Capital |
| Loans & Financing | 9 Jun 2016 | $75M | not disclosed | Exigent Capital and MainLine Investment Partners |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did iwoca raise in its Series B round?
iwoca raised $20M in its Series B round, announced in Jul 2015.
Who led iwoca's Series B round?
Acton Capital and CommerzVentures led it, with Redline Capital and Commerzbank.
What was iwoca's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Loans & Financing?
8 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $39M, and this round was 52% of the median.
Did iwoca raise again after this round?
Yes: a Series C round in Oct 2016 of $27M.