Flexible funding at better rates than iwoca
Make sure you get the best deal on your funding.
Why choose Wayflyer?
At Wayflyer we think Founder First. From product, to pricing, to our enviable customer service; it’s all done with founders like you in mind.
Common questions
iwoca
Maximum funding amount
£20m
£1m
Funds sent straight to your bank account
No fees for repaying early
No personal guarantee required
One fixed fee, not daily-compounding interest
AI-powered analytics
Apply once, access always-on funding
Is Wayflyer a good alternative to iwoca?
Yes - Wayflyer is a direct alternative to iwoca for UK eCommerce brands and growing small businesses. Both lend directly to UK businesses, but the structures differ: Wayflyer charges one fixed fee agreed upfront, while iwoca charges interest that accrues daily on your outstanding balance for as long as the loan runs.
eCommerce brands can access £10,000 to £20 million, and other small businesses can access up to £1M via Wayflyer's Small Business Loans - both with no personal guarantee, priced on your trading data rather than a credit check. iwoca's Flexi-Loan tops out at £1 million and requires a personal guarantee from a company director.
Trusted by 7,000+ of the world's best businesses
Ben YahalomPresident, True Classic
“We were aware that there was just a very long process of working with traditional banks, but the Wayflyer system seemed to be the exact opposite.”
Eric BinderCOO, Spongellé
£800KAnnual growth rate
David FullnerCo-founder and CEO, Kekoa Foods
24 hoursSecured funding
£800KAnnual growth rate
“We need to have the product created before a PO comes in. It's stressful to be fronting all of the funds for production and not receive money until it's on the shelves. Wayflyer helped bridge that financial gap.”
“For True Classic, Wayflyer is basically being that very flexible financing partner—very few restrictions or covenants on the terms on how and when to pull the cash out and how to use it. It really enabled us to avoid the need to go and raise capital.”
Want the best deals? Get in touch
Flexible rates for your business.
- Learn how our application process works
- Learn how similar companies succeeded
- Discuss your working capital needs
Hassle-free
Get capital in as little as 24 hours, so you can capitalise on growth opportunities.Limited risk
We don't ask for personal guarantees or take equity in your business.
No spend restrictions
We send cash directly to your bank account - use it however you see fit.
Wayflyer vs iwoca: frequently asked questions
It depends on how you want to be funded. Wayflyer works with you directly: apply in around 10 minutes, access £5,000 to £20 million as an eCommerce brand, or up to £1M as another small business, with one fixed fee, and receive funds in your bank account in as little as 24 hours. iwoca is a direct lender too, offering Flexi-Loans from £1,000 to £1,000,000, but interest accrues daily for as long as the loan is outstanding and a personal guarantee from a company director is required. If you want a higher funding ceiling, no personal guarantee, and a fee that's fixed from day one, Wayflyer is the stronger fit.
Wayflyer is a direct financing partner for consumer brands, pricing each offer as a single fixed fee based on your trading data and paying out directly to your bank account. iwoca is a UK small business lender offering the Flexi-Loan, a flexible credit facility of £1,000 to £1,000,000 that charges interest on your outstanding balance - published at around 1.5% per 30 days, plus an additional fee on longer terms - for as long as you hold it, with no charge for repaying early. Both lend directly rather than through a third-party platform, but Wayflyer doesn't require a personal guarantee, whether you're an eCommerce brand or a small business more broadly; iwoca serves small businesses across all sectors and asks for a personal guarantee from a company director.
Yes. Per iwoca's own eligibility criteria, limited companies applying for a Flexi-Loan must provide a personal guarantee from at least one company director, meaning that director becomes personally liable if the business can't repay. Wayflyer doesn't require a personal guarantee on any offer: financing is based on your business's trading performance, and we never take equity or ask a director to personally guarantee the debt.
Wayflyer offers financing from £5,000 up to £20 million for eCommerce brands, or up to £1M for other small businesses, sized on your actual sales performance. iwoca's Flexi-Loan ranges from £1,000 to £1,000,000, with your available credit limit typically set around one month's revenue. Both size offers on how your business is actually performing rather than a fixed credit score cut-off, but Wayflyer's ceiling is meaningfully higher for scaling eCommerce brands.
Wayflyer charges one fixed fee, agreed before you accept the offer, so the total cost of your financing doesn't change however long you take to repay it. iwoca charges interest daily on your outstanding balance - published at around 1.5% per 30 days, with an additional fee added on terms longer than 12 months - so the longer the loan runs, the more it costs in total, though there's no charge for paying it off early. If predictable, fixed-cost financing matters to you, Wayflyer's structure removes that variable.
Both are fast relative to a traditional bank loan. A Wayflyer application takes around 10 minutes, and funds can land in your bank account in as little as 24 hours once you accept an offer. iwoca's online application takes about 5 minutes, with decisions and funding often arriving within hours for existing customers, though first-time applicants should expect it to take a bit longer while iwoca verifies your business's financial data.
