Swoop’s year in numbers: 2023

Reading time: 2 min

    Add a header to begin generating the table of contents
    Ian Hawkins

    Page written by Ian Hawkins. Last reviewed on December 22, 2023. Next review due April 6, 2025.

      Add a header to begin generating the table of contents
      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.

      Like what you see? Share with a friend.

      Written by

      Ian Hawkins

      Ian Hawkins is Head of Content at Swoop. As a freelance business journalist and filmmaker he has reported from Europe, Central and North America and Africa. His films and writing have appeared on BBC World, Reuters and CBS, and he has spoken at conferences on both sides of the Atlantic on subjects including data, cyber security, and entrepreneurialism.

      To read our editorial policy, please click here.

      Ready to grow your business?
      close-blue

      Clever finance tips and the latest news

      Delivered to your inbox, every week
      Join the 70,000+ businesses just like yours getting the Swoop newsletter.
      Free. No spam. Opt out whenever you like.

      Clever finance tips and the latest news

      delivered to your inbox, every week

      Join the 70,000+ businesses just like yours getting the Swoop newsletter.

      Free. No spam. Opt out whenever you like.

      We work with world class partners to help us support businesses with finance

      close
      Looks like you're in . Go to our site to find relevant products for your country. Go to Swoop No, stay on this page