// NEWS //
iwoca and Teya partner as SME demand for finance expected to rise
iwoca, one of Europe’ s leading SME lenders, has announced a partnership with Teya, a growing all-in-one financial services platform for small businesses. The move will give Teya’ s UK customers direct access to iwoca’ s Flexi-Loan via its app or web portal, with approvals typically completed within minutes.
Through the partnership, small firms can now unlock loans from £ 1,000 to £ 1 million, with terms ranging from a single day up to 60 months. Applications are fully paperless, there are no early repayment fees and funds are generally available within minutes.
The launch comes as iwoca’ s SME Expert Index reveals that 73 % of SME finance brokers identify faster decisions as the top priority for their clients. The same survey shows that 76 % of brokers expect SME finance demand to increase sharply over the coming months.
Siddhartha Ram, Product Director at Teya, said:“ This partnership is another step in our journey to build truly useful financial services for small businesses. Whether it’ s payments, accounts or funding – our aim is to give business owners the tools they need to thrive, with none of the complexity.”
Colin Goldstein, Chief Commercial Officer at iwoca, said:“ Teya shares our belief that small businesses should have quick and uncomplicated access to the finance they need to grow. Working together, we can ensure that capital is available when and where it’ s needed most.”
The Flexi-Loan is available now to eligible Teya customers across the UK.
UK SMBs spend over £ 1 trillion on technology, Worldpay research finds
Worldpay research has revealed that UK small- and mediumsized businesses( SMBs) are investing 36 % of their annual revenue – amounting to more than £ 1 trillion – in technology and tools to run their businesses. This shift underscores the growing commitment of SMBs to embrace innovation to support productivity, efficiency and better meet customer expectations.
The study shows that just 1 % of SMB owners are not using technology to manage their business. A decade ago, one in five still relied on pen and paper, demonstrating a dramatic shift in digital adoption.
• Ninety percent of businesses say their tech investments have boosted efficiency.
• Technology is being integrated across functions: Fifty-four percent use it for financial management, 49 % for marketing and sales and 47 % for payment processing.
• Employee management, inventory control and CRM adoption average 40 %.
SMBs of all sizes are embracing agile technology solutions to enhance their operations – including The Smirkin’ Cod fish and chip shop in Swansea.
Key findings include:
Owners Mike Smith and Ben Parkin said:“ Worldpay 360 has been a game-changer for us – it’ s already saving us hours of admin each week. It’ s made the day-to-day running of the business much smoother and the back-office has also enabled us to easily add products, make amendments, add users and much more.”
Chris Wood, General Manager, SMB International at Worldpay, said:“ This Digital Transformation is not just a trend – it’ s a vital evolution that enhances productivity, efficiency and customer satisfaction. Worldpay is on a mission to provide SMBs with the right technology, empowering independent businesses to compete and thrive.” �
12 Intelligent SME. tech