Spanish Fintech ID Finance Raises €545M to Scale Consumer Credit App Plazo
Barcelona-based ID Finance has secured €545 million in debt and equity to expand its consumer finance app Plazo, in one of Spain's larger recent fintech deals.
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AfroEuropa desk
ID Finance, a fintech group headquartered in Barcelona, has raised €545 million in a combination of debt and equity, the company said on 13 October. The funding is aimed at expanding Plazo, its consumer finance app.
The round drew participation from Spice Expeditions, WashU, Kingsway Capital and the global investment firm i80 Group, which provided asset-based financing. According to Tech.eu, ID Finance did not break down the split between debt and equity in the raise. The company described the financing as one of the largest by a Spanish fintech in recent years.
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