Swoop’s year in numbers: 2023

A selection of the amazing stats that mark our biggest year yet

It’s been Swoop’s biggest year yet: the Deloitte Fast 50 has placed Swoop as the #1 fastest growing tech company in Ireland. With operations around the world, Swoop is closing in on our goal of giving EVERY business access to the funding it needs to grow.

We went into the Swoop data to pull out some statistics about the deals we’ve done, the sectors that have been most successful and the customers we’ve helped in the last 12 months – and they make for interesting reading.

If you’re thinking about funding for your business, be in no doubt – you’re in the right place.

What’s the average deal size?

The average deal size in 2023 was £69,750 – not surprising as Swoop covers borrowing from a credit card to a commercial mortgage.

How many countries does Swoop work in?

Officially Swoop operates in Ireland, UK, Canada, Australia, South Africa and USA. We’ve also closed deals in Spain and Germany.

How old are businesses with successful applications?

47 percent are less than 5 years old.

Young companies grow fast – and are among those most in need of funding. From startup loans to ongoing capital needs, Swoop is helping businesses that have set up during or since the pandemic.

What’s the most popular product?

43 percent of successful applications are for term loans.

In a distant second place are merchant finance deals at 12 percent.

What sectors are most successful?

One in three successful applications are from these four sectors:

• 1. Science and technology activities (excluding environment and quantity surveying)
• 2. Construction
• 3. Retail
• 4. Hotels/public house/guest house

What business structure is most successful?

84 percent of successful applications are from private limited companies.

And finally… who owns businesses registered with Swoop?

538 companies that registered with Swoop in 2023 have a founder or FD named James.

2023 has been a big year for us, and we hope it’s been a good one for your business too. Wherever you are… whatever you need… whether you’re called James or not, Swoop is here to help you have a successful 2024. Get started.