iwoca vs Swoop Funding: UK Business Finance Comparison 2026
See how iwoca compares to Swoop Funding side by side, then get three tailored quotes to weigh alongside them. Free, no obligation, and nothing to pay if you decide not to proceed.
Start here: what fits your business?
These are different products rather than like-for-like invoice finance rivals (iwoca: flexi-loan and revolving credit (not invoice finance); Swoop Funding: funding marketplace (loans, grants, invoice finance)). UK businesses still weigh them side by side, so the real question is which job you need doing, not which is the better invoice finance line. iwoca typically takes 24 hours (approval) to set up; Swoop Funding matches you to a panel funder (its stated speed: payment usually within 48 hours of submitting an invoice). iwoca does not publish a minimum turnover figure, Swoop Funding needs £30k minimum turnover.
Side-by-side
Full reviews: iwoca · Swoop Funding
| Compared on | iwoca | Swoop Funding |
|---|---|---|
| Product type | Flexi-loan and revolving credit (not invoice finance) | Funding marketplace (loans, grants, invoice finance) |
| Min turnover | Not published | £30k |
| Advance rate | N/A (credit line, not advance against ledger) | Up to 95% (funder dependent) |
| Typical fee | Rates starting at 1.5% per 30 days on drawn balance | Funder rates via marketplace matching |
| Confidential available? | N/A | Yes, via panel funders |
| Factoring available? | N/A | Yes, via panel funders |
| Setup speed | 24 hours (approval) | Payment usually within 48 hours of submitting an invoice |
Sources for these figures: iwoca: rates from 1.5% per 30 days, approval within 24 hours · iwoca: founding date · Swoop Funding: advance up to 95%, £30k minimum turnover, payment usually within 48 hours, "a credit broker, not a lender" · Swoop Funding: "We introduce applicants to a panel of lenders"; "offers from mainstream banks as well as alternative lenders"
When iwoca wins
- Decision in 24 hours in almost all cases, by iwoca's account.
- No factoring of the ledger and no customer notification.
- Draw and repay flexibly; interest only on what is used.
- Strong fit when there are few or large single debtors.
Best for
Businesses with few invoices, Fast one-off cash flow gaps, Owners who want no debtor contact.
Watch outs
- Not invoice finance: it lends against the business, not invoices.
- Monthly interest can exceed invoice finance for sustained borrowing.
When Swoop Funding wins
- Marketplace comparing invoice finance against loans, grants and equity.
- Introduces you to a panel of mainstream banks and alternative lenders.
- Single profile reused across multiple funding types.
- Good for owners weighing several funding options.
Best for
Owners comparing funding types, Businesses also exploring grants or equity, Digital-first applicants.
Watch outs
- A marketplace and broker, not a direct lender.
- Final terms and speed depend on the matched funder.
FAQ
iwoca or Swoop Funding: which fits your business in 2026?
They do different jobs (see the product types above), so pick by the job you need doing.
How do iwoca and Swoop Funding price their facilities?
Pricing: iwoca, rates starting at 1.5% per 30 days on drawn balance; Swoop Funding, funder rates via marketplace matching. Get a written quote from each on the same invoices and compare the total cost.
Can I get a confidential facility with either iwoca or Swoop Funding?
iwoca is not an invoice finance facility, so confidential invoice discounting does not apply. Swoop Funding is not a lender itself, but confidential invoice discounting is available through the funders on its panel, who set the terms.
Who is each one not suited to?
iwoca is a poor fit for high-volume sales ledgers better suited to factoring. Swoop Funding is a poor fit for direct-lender relationship seekers. If that describes your business, you can get free quotes through our quote form.
Can Market Invoice help me choose between iwoca and Swoop Funding?
Yes. marketinvoice.co.uk is an independent comparison and introducer service operated by Best Business Loans Ltd (company 16833937), and is not tied to either provider. Share your turnover, sector and debtor profile and we pass your details to one or more of the finance partners we work with, who come back to you with quotes, with no obligation to proceed.
Related
Sources
- Figures for iwoca come from its own website.
- Figures for Swoop Funding come from its own website.
- iwoca: rates from 1.5% per 30 days, approval within 24 hours
- iwoca: founding date
- Swoop Funding: advance up to 95%, £30k minimum turnover, payment usually within 48 hours, "a credit broker, not a lender"
- Swoop Funding: "We introduce applicants to a panel of lenders"; "offers from mainstream banks as well as alternative lenders"
Get free quotes
Tell us monthly turnover, sector, debtor profile and whether the facility needs to be confidential. We pass your details to one or more of the finance partners we work with, who come back to you with quotes. Free, and no obligation to proceed.
Get my quotes →Best Business Loans Ltd (16833937), directed by Oliver Mackman, owns and operates Market Invoice. Last updated: .
Compare iwoca and Swoop Funding quotes
Free, no obligation. Tell us about your business and we pass your details to one or more of the finance partners we work with, who come back to you with quotes.
Step 1 of 3 · Your business
Free to you. We may be paid by the finance partners we introduce you to. This could be a fee or commission, depending on the partner and the finance arranged. It does not change what you pay. See our privacy policy.
How we make money: Market Invoice is an independent comparison service, not a lender. We may be paid by the finance partners we introduce you to. This could be a fee or commission, depending on the partner and the finance arranged. It does not change what you pay. How we are funded.
Disclosure: marketinvoice.co.uk is an independent invoice finance comparison and introducer service operated by Best Business Loans Ltd (company number 16833937). It is a separate business and is not connected to Kriya, Allica Bank or to any provider named on this page. We may be paid by the finance partners we introduce you to. This could be a fee or commission, depending on the partner and the finance arranged. It does not change what you pay. Invoice finance for limited companies is not a regulated activity, so this comparison is general information rather than regulated financial advice. Figures are indicative; larger facilities are commonly priced bespoke, so confirm terms directly with the provider before you sign.