ID Finance Investments, S.L.: Following €60M debt and equity round, ID Finance offers existing shareholders and clients an opportunity to participate via Crowdcube

13^th of June 2023 – Spanish leading Fintech ID Finance has launched a new crowdfunding campaign on Crowdcube to offer existing shareholders and clients as well as European retail investors the opportunity to participate in the €30M equity round that was recently closed with UK asset manager Kingsway Capital.

In addition to the agreement closed with Kingsway Capital, ID Finance has also closed a $30M debt agreement with US asset manager SR Alternative Credit (an affiliate of Spouting Rock Asset Management, LLC.) to reinforce its business in Mexico. These recent transactions open a new chapter for the business and ensure sufficient resources to deliver on its ambitious strategy.

“The recent funding transactions with institutional investors Kingsway and Spouting Rock opened up new horizons for the Company. We have received significant interest from the existing investors to participate in the equity round. We are happy to offer our existing partners the opportunity to take up in the growth and development of ID Finance” – Boris Batine, co-founder of ID Finance noted.

After the success of the previous 2 crowdfunding campaigns on Crowdcube totalling nearly €8.9M equity, retail investors now get a chance to join Kingsway and participate at ID Finance’s history of growth with special focus on the roll out and expansion of its flagship financial wellness app Plazo both in Southern Europe and Latin America.

Launched in Spain in 2021 with the mission of improving people’s financial stability, Plazo offers debit, saving and credit solutions to meet people's daily financial needs. Since its inception, Plazo has onboarded ca. 130,000 active customers that benefit from a whole range of financial wellness functionalities and the number keeps growing on a monthly basis.

ID Finance aims at consolidating Plazo as the go-to financial wellness app in Spain and further scale it globally. Plazo beta version was recently launched in Mexico, where ID Finance has a significant market share as alternative online lender.

Strong performance

In 2022, ID Finance recorded a revenue of €170M and a profit of €6.3M, reflecting its resilience to a challenging environment. Its deep understanding of customer behaviour, data analytics, and expertise in credit risk management has consolidated ID Finance as one of the top alternative lending brand in Spain and Mexico.

It has now over 5 million users worldwide. With Plazo, ID Finance has the potential to serve a broader number of customers globally and become the go-to financial wellness app in Spain and other relevant markets in Europe and Latin America.

Risk disclosure:

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 About ID Finance
www.idfinance.com  

ID Finance is a leading finance technology company based in Spain with operations in this country and Mexico. Its main offering is focused on providing finance solutions. It is among the few financial technology firms in Spain and Mexico committed to measuring and compensating its carbon footprint. In Spain, ID Finance alternative lending platform has recently consolidated as one of the market leaders and keeps constantly growing its customer base. In addition, in 2021 ID Finance launched its financial wellness app Plazo that offers debit, saving and credit solutions to help people achieve financial wellness.

About Crowdcube
www.crowdcube.eu  

The European marketplace for retail investment into private companies, Crowdcube enables entrepreneurs to raise finance with the added benefit of being backed by their community. For investors, Crowdcube provides a way to hand-pick a stake in an innovative business they believe in that traditionally would have been restricted to professional investors.Crowdcube has carried out 1,800 successful raises. With over one million members, a total of €1.5bn has been invested on the platform to date.Businesses that have successfully raised funds with Crowdcube include Revolut, Monzo, Zoe, Cowboy, and Heura.

For further information, please contact:

Katia Ballano Göring
PR & Comms manager ID Finance Plazo
katia.ballano@idfinance.com
+34 649 799 327