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Former PayPal MD joins FinTech Startup iwoca

LONDON, Oct. 8, 2012 /PRNewswire/ -- iwoca Ltd, the first company in the UK to provide working capital loans to eBay traders and other marketplace sellers announced the appointment of Carl-Olav Scheible as Non-Executive Director.  

"We are very proud to have Carl on board. Under Carl's leadership PayPal grew to a financial powerhouse across Europe. His experience and relationships will be instrumental in growing iwoca's business in the UK and beyond." said iwoca Co-founder and CEO Christoph Rieche.

In his role, Scheible will contribute to the overall development strategy of iwoca, monitoring the company's fiscal performance and future growth plans.

Scheible said, "I am tremendously excited about iwoca and their mission. In volatile economic times where banks have severely curtailed lending, innovative, technology based small business lenders like iwoca are making a difference to many business, helping them grow and trade online."

Scheible brings over 20 years leadership experience from the technology and financial services sectors and has held a number of senior positions at PayPal. Scheible successfully launched and was responsible for PayPal's operations in six European countries and its merchant services business. Most recently he was MD of UK & Ireland and a member of PayPal's EMEA Executive Team. He currently holds the position as Executive VP of Moneygram and has an MBA from Columbia Business School.

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About iwoca Limited:

A financial tech startup, iwoca has been funding online retailers since March 2012. By looking directly at their sales data and customer feedback scores, iwoca can make a fair assessment of an online business.

iwoca is showing impressive traction having lent out in excess of £500,000 to online sellers trading in everything from collectible books to packaging materials. iwoca has been featured in the Financial Times, The Daily Telegraph and The Mail on Sunday as well as in publications targeted at the e-commerce community such as Tamebay and Auctionbytes.

SOURCE iwoca Ltd