DNA Payments Partners With iwoca to Deliver New Funding Options That Empower UK SME Growth

LONDON--(BUSINESS WIRE)--DNA Payments, one of the UK’s largest independent payment companies, has expanded its merchant funding offering through a new partnership with one of Europe’s largest SME lenders, iwoca.

Through this partnership, DNA Payments’ clients can now easily apply for an iwoca Flexi Loan of between £1,000 and £1 million, directly from their Merchant Portal and App. The fully digital application process, with approvals typically processed within minutes, offers greater choice and flexibility to thousands of SMEs using DNA Payments.

The partnership comes amid ongoing uncertainty for UK small businesses. According to iwoca’s latest SME Expert Index, 78% of finance brokers expect supply chain disruption to negatively impact small business performance, while 70% say their SME clients are concerned about rising energy prices. Running costs have risen to the top of SMEs’ concerns, cited by 54% of brokers.

“The opportunity for UK businesses has never been greater, and we’re working hard to provide the financial services they need to realise that opportunity,” said Colin Neil, CEO of DNA Payments. “By adding term loans to our funding options, we can better support our clients when they need it most.”

"This partnership means more businesses can access funding exactly where they already are - inside the tools they use every day," said Harry Cranfield, Head of Partnerships at iwoca. "Funding should meet the needs of actually running a business. That's what every business owner goes through and accessing finance should fit around that."

About DNA Payments

DNA Payments is one of the UK’s largest independent omnichannel payment companies. It helps businesses of all sizes receive payments in-store, online, and on the go. With a focus on innovation and reliability, DNA Payments provides the infrastructure that powers thousands of businesses across the UK and Europe.

About iwoca

Fast, flexible finance empowers small businesses to manage their cash flow better and seize opportunities - making their business and the economy stronger as a whole. At iwoca, we do just that. We help businesses get the funds they need, when they need it, often within minutes. We’ve already made several billion in funding available to over 100,000 businesses since we launched in 2012 and positioned ourselves as a leading Fintech in Europe. Our mission is to finance one million businesses.

We’ll get there by continuing to make our finance ever more relevant and accessible to more businesses by combining cutting-edge technology, data science and a 5-star customer service that’s consistently rated highly on Trustpilot and Glassdoor.

For more information go to www.iwoca.co.uk, like our LinkedIn and Facebook page. Follow us on X @iwoca and Instagram @iwoca.

Photos of Harry Cranfield, found here