Comparison · 2026 edition
iwoca vs Liberis: working capital finance compared 2026.
iwoca and Liberis side by side in the Revenue-Based and Working Capital Finance Index 2026: scores, evidence, published facts and awards.
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iwoca and Liberis 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, iwoca scores higher overall: 3.1 out of 5 (62 out of 100) against 2.9 (57), ranking 2 and 4 of 12. Iwoca 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 | iwoca | Liberis |
|---|---|---|
| Score out of 5 | 3.1 | 2.9 |
| Score out of 100 | 62 | 57 |
| Overall rank | 2 of 12 | 4 of 12 |
| For online and retail brands (out of 100) | 63, rank 2 | 58, rank 4 |
| For software and subscription firms (out of 100) | 62, rank 2 | 51, rank 4 |
| For small businesses and merchants (out of 100) | 62, rank 1 | 62, rank 2 |
| Type | Business lender | Revenue-based finance provider |
Each score with the evidence behind it.
| Criterion | iwoca | Liberis |
|---|---|---|
| Product range | 3/5 Two financing types published: business loans and business credit cards. | 5/5 Five financing products published, from starter advances to custom limits. |
| Published pricing | 4/5 Representative APR and typical longer-term fees published; headline rate is a "start at" figure. | 4/5 Representative APR with a full worked example published; other products not priced. |
| Published eligibility | 2/5 UK company types published; no minimum turnover or trading history published. | 3/5 Revenue thresholds and UK company eligibility published; trading history not published. |
| Limits and speed | 5/5 Minimum and maximum amounts and a same-day funding time published. | 3/5 Maximum amounts and an under 24 hour funding time published; minimum amounts not published. |
| Borrower terms | 2/5 No early repayment charge stated; a director's personal guarantee is required. | 0/5 Personal guarantee, equity and early repayment terms not published on the pages read. |
| Regulatory standing | 2/5 FCA register number published for payment services, not lending; no security certification. | 2/5 States its financing is not FCA regulated; register number published for a payment agent role only. |
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 | iwoca | Liberis |
|---|---|---|
| Products | Business loan (Flexi-Loan), business credit cards issued by Enfuce UK Limited, and iwocaPay for sellers. | Starter Capital ("Up to £50,000/ advance"), Pay with Liberis ("Up to £10,000/ purchase"), Working Capital ("Up to £1m/ advance"), Flex Capital ("Up to £2m/ limit") and Investment Capital (custom). |
| Pricing | "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". | Representative APR "41.9%": loan "£25,000", 12-month term, fixed fee "£6,000", total repayable "£31,000", interest "0%". |
| Limits and speed | "Borrow £1,000 - £1,000,000 for 1 day to 5 years"; "the funds will typically be in your account in hours." | Not listed in this index |
| Eligibility | "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." | Revenue thresholds by product: "from £0/ month", "from £500/ month", "from £5,000/ month" and "from £40,000/ month"; representative example for UK Limited Companies; "15 markets" not named. |
| Borrower terms | "For limited companies we do ask for a personal guarantee, typically from a company director." "we'll never charge you for repaying early." | Not listed in this index |
| Regulatory standing | "iwoca Ltd is registered with the Financial Conduct Authority under the Payment Services Regulations 2017" (reference 791804); ICO registration Z3007540. No security certification stated. | Not listed in this index |
| Speed and repayment | Not listed in this index | Working Capital: "Fastest time to funds (< 24 hours)"; "Paid with % of future revenue"; minimum monthly amount "of up to 3% of the total amount owed". |
| Regulatory status | Not listed in this index | "Liberis is not authorised or regulated by the Financial Conduct Authority"; "Business Cash Advance is a form of receivables finance not a loan." |
| Register entry | Not listed in this index | "Liberis Limited (Firm Reference Number: 902157) is a registered EMD agent of Modulr FS Limited"; US payment services by "Airwallex US, LLC (NMLS #1928093)". |
| Date read | 26 October 2026 | 26 October 2026 |
Not published or not stated by iwoca: regulatory standing, published eligibility and borrower terms.
Not published or not stated by Liberis: eligibility, limits and speed and borrower terms.
Facts read on 26 October 2026 from: iwoca.co.uk/flexiloan, iwoca.co.uk/faq, iwoca.co.uk; and liberis.com/…, liberis.com/compare-products.
Awards follow from the published scores and cannot be bought.
From each provider's strongest criteria and published terms.
UK limited companies wanting a representative APR and money within hours.
UK merchants wanting a published representative cost and a range of advance sizes.
Tell us what you need and where you operate.