Over the past five years, alternative finance has become a fundamental source of growth capital for Britain’s bustling community of scale-ups. By offering flexible, rapid and responsive services, alternative finance offers SMEs an opportunity to overcome stringent regulations which hinder their future growth prospects.
In October, a Parliament report into business access to finance found that venture capital schemes encouraging private investment into SMEs – such as the Enterprise Investment Scheme – were vital in supporting Britain’s long-term entrepreneurship. Chancellor Hammond’s commitment of £400 million in venture capital funds through the British Business Bank (BBB) as part of the 2016 Autumn Statement is a positive step forward for scaling companies. The measure reflects a government that recognises the undeniable significance that private capital serves for growth.
By providing flexible, rapid and responsive services, alternative finance offers SMEs an opportunity to overcome stringent lending regulations that hinder their future growth prospects. Peer-to-peer travel money exchange service WeSwap is an ideal example of a disruptive company whose funding success has relied on private investment.
In the space of four years, WeSwap has transformed from a concept into fully-fledged scale-up. Its revolutionary service has made WeSwap a leading figure in London’s globally renowned fintech scene. Since 2014, IW Capital has been a proud supporter of the company, leading the Series A funding round and supporting the CEO Jared Jesner through various stages of significant progression and growth. In the last year, the company has reported growth of 204% in the last year, with a user base totalling over 200,000.
To celebrate the success of WeSwap, IW Capital has released a comprehensive infographic profiling WeSwap.
Click on the image below to download the full infographic.