ID Finance, a Barcelona, Spain-based financial wellness app provider, raised €30M in funding.
The transaction includes both a primary capital infusion and a buyout of shares from its early investors. The capital injection is structured as a convertible loan with a maximum valuation of €235M.
The round was led by Kingsway Capital.
The company intends to use the funds to further drive the development of the financial wellness app Plazo in Spain and its launch in Mexico.
Led by Boris Batine, CEO, ID Finance uses advanced analytics and machine learning algorithms to provide access to competitive financial services via its financial wellness app Plazo. ID Finance has over 5M unique registered users across Spain and Mexico.
FinSMEs
24/03/2023