At a glance
- The lender is targeting a €1 billion German loan book by 2028.
- Former ThinCats managing director Ravi Anand launched Ignite Funding Partners, which is seeking £500 million for UK SME loans of £1 million to £25 million.
- For allocators, the two announcements create separate diligence files: iwoca's German book now has bank senior and mezzanine funding behind it, while Ignite is a new UK SME lender seeking £500 million.
iwoca added a €185 million German credit line, with ABN AMRO taking the senior portion and Neuberger the mezzanine. The German line takes iwoca's total commitment in the country past €560 million. The lender is targeting a €1 billion German loan book by 2028.
Former ThinCats managing director Ravi Anand launched Ignite Funding Partners, which is seeking £500 million for UK SME loans of £1 million to £25 million. Several former ThinCats colleagues are set to join, Alternative Credit Investor reported.
For allocators, the two announcements create separate diligence files: iwoca's German book now has bank senior and mezzanine funding behind it, while Ignite is a new UK SME lender seeking £500 million. The coverage does not disclose pricing on iwoca's line or Ignite's fee terms, the numbers an allocator would need to compare the two.
Hamburg hires Alantra's Sicilia for NPL financing
Hamburg Commercial Bank hired Alantra's Fabrizio Sicilia to head NPL financing, Alternative Credit Investor reported. Sicilia will be based in London and report to Bryant Lau; at Alantra he underwrote more than €200 billion of non-performing exposure portfolios, the report says.
The coverage does not say whether Hamburg will buy loan books or lend to buyers. That distinction sets the risk: a buyer owns the recovery, while a lender to buyers takes collateral and structural protection. For allocators, the question is which exposure a Hamburg NPL financing strategy would give them.
iwoca's line has a bank providing the senior portion and Neuberger providing mezzanine. The €560 million commitment figure is not a loan book; iwoca is targeting €1 billion of German loans by 2028.
Ignite's £500 million is a target, not committed capital. The coverage does not say how much has been committed or when the lender expects to close. Anand is the named individual behind the launch; the coverage does not name the former ThinCats colleagues set to join.
The next markers are iwoca's €1 billion German loan book target for 2028 and Ignite's £500 million raise. Hamburg's NPL financing hire brings a banker who has underwritten more than €200 billion of non-performing exposure portfolios.
Reported by The Wrap desk from Alternative Credit Investor and Internal newsroom graph query results. Published . Corrections
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