Comparison · 2026 edition
Clearco vs iwoca: working capital finance compared 2026.
Clearco and iwoca side by side in the Revenue-Based and Working Capital Finance Index 2026: scores, evidence, published facts and awards.
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Clearco and iwoca side by side in the Revenue-Based and Working Capital Finance Index 2026: scores, evidence, published facts and awards.
In the Revenue-Based and Working Capital Finance Index, Clearco scores higher overall: 3.4 out of 5 (67 out of 100) against 3.1 (62), ranking 1 and 2 of 12. Clearco scores higher for online and retail brands and software and subscription firms; they tie for small businesses and merchants.
Overall and segment scores out of 100, and the score out of 5.
| Score | Clearco | iwoca |
|---|---|---|
| Score out of 5 | 3.4 | 3.1 |
| Score out of 100 | 67 | 62 |
| Overall rank | 1 of 12 | 2 of 12 |
| For online and retail brands (out of 100) | 66, rank 1 | 63, rank 2 |
| For software and subscription firms (out of 100) | 72, rank 1 | 62, rank 2 |
| For small businesses and merchants (out of 100) | 62, rank 3 | 62, rank 1 |
| Type | Revenue-based finance provider | Business lender |
Each score with the evidence behind it.
| Criterion | Clearco | iwoca |
|---|---|---|
| Product range | 4/5 Four funding products published, three of them forms of the same funding limit. | 3/5 Two financing types published: business loans and business credit cards. |
| Published pricing | 1/5 Only a "start at" fee is published, which the method does not count. | 4/5 Representative APR and typical longer-term fees published; headline rate is a "start at" figure. |
| Published eligibility | 5/5 Minimum revenue, trading history and US-only eligibility all published. | 2/5 UK company types published; no minimum turnover or trading history published. |
| Limits and speed | 5/5 Minimum and maximum amounts and a 24 to 48 hour funding time published. | 5/5 Minimum and maximum amounts and a same-day funding time published. |
| Borrower terms | 5/5 No personal guarantee, no equity and no early repayment charge all stated. | 2/5 No early repayment charge stated; a director's personal guarantee is required. |
| Regulatory standing | 0/5 Not published on the pages read. | 2/5 FCA register number published for payment services, not lending; no security certification. |
Each criterion is scored 0 to 5 against the best published offer in the Revenue-Based and Working Capital Finance Index. 0 means not offered or not published. How it is scored
What each provider publishes on its own pages, read on 26 October 2026.
| Fact | Clearco | iwoca |
|---|---|---|
| Products | Rolling Funding Capacity, Cash Advance, Fixed Funding Capacity and Invoice Funding; invoices extended "over 4-12 months, with a fixed fee, on a weekly cadence". | Business loan (Flexi-Loan), business credit cards issued by Enfuce UK Limited, and iwocaPay for sellers. |
| Pricing | Fees "start at 3.5%"; the exact fee is "disclosed before acceptance" and "will never increase throughout the duration of the extension plan". | "Our business loan interest rates start at 1.5% per 30 days"; example "3.33% interest per 30 days (49% APR representative)"; fee "typically it's 5% when borrowing for 13 to 24 months and 6% for longer". |
| Eligibility | "Sell directly to consumers online (DTC)"; "Have 6+ months of consistent revenue, generating more than $100,000 USD per month"; "incorporated in the U.S. and have an active U.S. business bank account". | "you must have a UK-based business and operate as a limited company or limited liability partnership"; "Startup businesses are limited to a maximum credit limit of £10,000." |
| Limits and speed | Cash Advance: "$25,000 minimum and $600,000 maximum" per draw; "funding up to $10 million"; "Most founders receive funding within 24 to 48 hours." | "Borrow £1,000 - £1,000,000 for 1 day to 5 years"; "the funds will typically be in your account in hours." |
| Borrower terms | "Our funding is non-dilutive, with no personal guarantees"; never takes "collateral or an all-asset lien"; "You can pay at any time without fees or penalties." | "For limited companies we do ask for a personal guarantee, typically from a company director." "we'll never charge you for repaying early." |
| Regulatory standing | No licence or security certification stated; footer names "Clear Finance Technology Corporation". | "iwoca Ltd is registered with the Financial Conduct Authority under the Payment Services Regulations 2017" (reference 791804); ICO registration Z3007540. No security certification stated. |
| Date read | 26 October 2026 | 26 October 2026 |
Not published or not stated by Clearco: regulatory standing and borrower terms.
Not published or not stated by iwoca: regulatory standing, published eligibility and borrower terms.
Facts read on 26 October 2026 from: clear.co, clear.co/faqs, help.clear.co/s/article/…; and iwoca.co.uk/flexiloan, iwoca.co.uk/faq, iwoca.co.uk.
Awards follow from the published scores and cannot be bought.
From each provider's strongest criteria and published terms.
US online brands with over $100,000 monthly revenue wanting clear borrower terms.
UK limited companies wanting a representative APR and money within hours.
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