Funding round
iwoca Series C
iwoca, which works in business finance solutions delivery in London, raised $27M in a Series C round announced on 4 Oct 2016, led by Prime Ventures. 6 firms took part, 2 of them already investors. It is iwoca's second venture round on record; the one before was a Series B in Jul 2015.
$27M
Amount raised
21,000,000 GBP converted
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
iwoca did not disclose a valuation in this round. It came 15 months after iwoca's Series B. It is 57% of the $47M iwoca has raised in the venture rounds on record. No later venture round is on record for iwoca.
iwoca's funding rounds
iwoca has 2 venture rounds on record and 5 other deals. This one is highlighted.
- Series B 30 Jul 2015, led by Acton Capital and CommerzVentures $20M
- Debt not a venture round 4 Oct 2016 $59M
- Series C this round 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
Prime Ventures led the round with 5 other firms. Acton Capital Partners and CommerzVentures had backed iwoca before.
Lead investor
- backs 25 venture-backed companies new investor
Also in the round
- Acton Capital Partners existing investor
- backs 31 venture-backed companies existing investor
- backs 295 venture-backed companies new investor
- Redline Capital new investor
- backs 17 venture-backed companies new investor
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
5 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $37M, and this round was 72% of the median. The closest in time, other companies' Series C rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 4 Oct 2016 | $34M | not disclosed | Runa Capital |
| Loans & Financing | 6 Apr 2016 | $37M | not disclosed | HarbourVest |
| Loans & Financing | 20 Jul 2017 | $13M | not disclosed | North Atlantic Capital |
| Prodigy Finance Loans & Financing | 21 Aug 2017 | $40M | not disclosed | Index Ventures |
| Kiavi Loans & Financing | 17 Oct 2017 | $57M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did iwoca raise in its Series C round?
iwoca raised $27M in its Series C round, announced in Oct 2016.
Who led iwoca's Series C round?
Prime Ventures led it, with Acton Capital Partners, CommerzVentures, Global Founders Capital, Redline Capital and Rocket Internet.
What was iwoca's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Loans & Financing?
5 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $37M, and this round was 72% of the median.