As soon as lockdown restrictions were announced in the UK, iwoca’s phones began to ring. The alternative finance lender’s customer base of small businesses was badly affected, and keen for guidance.
“We experienced a huge surge of activity,” says iwoca CEO Christoph Rieche. “Volumes rose threefold at the outset of the crisis.”
The London-based firm had to manage this activity while relocating 300 staff across the UK and Germany to work from home. “We did it without a single hour of downtime,” says Rieche.