Spain-based ID Finance has raised a $32M funding round to provide online lending and personal finance in markets that large banks typically avoid.
The company had $182M in revenue in 2022.
ID Finance offers an app through which users can apply for loans in order to solve their short-term liquidity issues.
- The company claims that it has created a profitable loan business in every market it has entered in less than one year.
- Its two main markets are Spain and Mexico,
- ID Finance has around 5 million registered users, while its net profit grew 17% in 2022, reaching $8M.
- Kingsway Capital led the debt funding round.
- The company is based in Barcelona, Spain.
- Since its inception in 2012, ID Finance has raised $102M.
