London-based fintech Iwoca, a leading SME lender in Europe, has secured a new £200 million debt funding package from Citi and Waterfall Asset Management. This funding allows Iwoca to double its maximum loan offer to £1 million, aiming to address the growing demand for larger loans from medium-sized businesses. The company has raised nearly £1.5 billion since its inception in 2012, with £740 million coming from various investors over the past two years.

Iwoca's recent SME Expert Index indicates that nearly one-third of brokers anticipate an increase in loan applications exceeding £100,000 in the next six months. The firm has also been recognized as one of the top 10 performing fintechs in the UK, generating £143 million in revenue in 2023. By the end of October 2024, Iwoca had issued a record £730 million across 35,000 business loans.

CEO Christoph Rieche emphasized the company's commitment to supporting medium-sized businesses, which face similar challenges as smaller firms in accessing working capital. He expressed gratitude for the partnership with Citi, which will help finance more SMEs in the UK.

In other funding news, Lyon-based Agicap raised €45 million in a Series C round led by AVP, marking the first investment from AVP's new €1.5 billion late-stage fund. Agicap aims to solidify its position as a leader in treasury management for midmarket companies, addressing the complexities of cash management that many CFOs face today.

Big XYT, a data analytics firm for financial markets, announced a €10 million investment led by Finch Capital to enhance its global expansion and product development. The company provides advanced analytics solutions to major financial institutions, helping them navigate complex market demands.

Finland's Maki.vc launched a €100 million fund to support early-stage startups in the Nordics, focusing on scientific breakthroughs and strong intellectual property. The fund has already backed six startups, including those in deep tech and consumer sectors.

The European Investment Fund (EIF) committed €90 million to three Portuguese venture capital funds, aiming to accelerate growth in the deep tech and cybersecurity sectors. This initiative highlights Portugal's emerging status as a technology hub.

Lastly, Amsterdam-based Sympower raised €21.3 million to expand its battery energy storage solutions, furthering its role in Europe's energy transition. The funding will help the company enhance grid stability and support renewable energy integration.