Airbank can now offer its customers loan funds directly through the financial management platform with iwoca. The customers of both FinTechs should benefit. Financing of €10,000 to €5 million is possible. While Airbank now enables SMEs to handle all financial processes uniformly on one platform, Iwoca is expanding its platform to include the option of requesting a loan directly via Airbank.
“We give companies an overview of their accounts, financial situation, and liquidity. Now entrepreneurs also get access to the tools to cover financing needs in financial planning. Iwoca closes the gap between presenting the financial position and the solution in case of lack of liquidity. Now we can finally accompany our customers throughout the entire process,” says Airbank founder Christopher Zemina.
With this collaboration, the FinTech covers the entire value chain of financial management for SMEs and startups.
Customers, in particular, would benefit from this partnership. As a financial platform, Airbank aims to provide an overview of all financial processes in the company and identify liquidity bottlenecks at an early stage. Through the cooperation with iwoca, companies would now be able to react immediately based on these insights: In just a few steps, entrepreneurs would submit a request and receive a financing offer. From pointing out the problem to its solution, everything remains in one ecosystem.
iwoca (www.iwoca.de) was founded in London in 2012 to improve access to credit for the self-employed and small businesses. In 2015, it entered the German market, where it established itself as a FinTech loan provider specializing exclusively in small businesses.
The Berlin-based Airbank (www.joinairbank.com) is a cash flow management platform for startups and SMEs, uniting all business accounts and financial data in one place. Airbank is backed by several European venture capitalists.