ID Financethe biggest fintech from Spain, has raised 3.3 million euros through the platform crowdcube, the highest figure achieved by a national company in one of this 2021. This financing operation had the participation of 900 small investors and in it the initial objective, which planned to raise one million euros, has been tripled. After this operation, ID Finance already reaches the 220 million euros valuation.
What is ID Finance?
ID Finance is a company created in 2015 by Boris Batine and Alexander Dunaev that is responsible for developing services that aim to change the way people manage their finances. The company already has a solid track record in the technological financial world, specializing in lines of credit, being present in both Spain and Mexico, market it entered in 2017.
“We have grown a lot thanks to our cutting-edge technology in credit scoring and credit management. Since 2015, we have managed nearly 9 million credit applications. In addition, we are one of the few fintechs that have achieved profitability, which gives us credibility»,
In that year 2015, ID Finance launched money mana brand specialized in fast loans, with the aim of solving short-term liquidity needs through a fully automated digital loan service.
Recently, ID Finance presented its new financial product Term for its clients in Spain. It is a neobank that offers flexible credit and payment services to measure, according to the fintech itself. With Termo, ID Finance intends to respond to the demand for flexible solutions so that customers can defer payments, as well as obtain access to small lines of credit.
The fintech claims to have detected a market opportunity valued at more than 400,000 million euros in southern Europe and Latin America, with almost 500 million people who could benefit from the financial solutions offered by Termo.
“Term is the only Spanish neobank that combines a fee-free Mastercard debit card with different alternatives for payment deferrals and lines of credit offered through ID Finance Spain, another company of the ID Finance group”they explain from the technology firm.
After the launch of this neobank, which will have an electronic money license specializing in credit solutions in Spain, the objective that ID Finance now sets itself is to extend its activity in Mexico, which will be the second market that Termo will soon reach.
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