ID Finance, a Barcelona, Spain-based consumer fintech company, has secured €545 million in combined debt and equity financing to support the expansion of its consumer finance platform, Plazo.
The financing included participation from Spice Expeditions, WashU, Kingsway Capital and i80 Group. The latter provided asset-based financing as part of the transaction. The company did not disclose the breakdown between debt and equity funding.
Founded by Boris Batine and Alexander Dunaev, ID Finance provides digital consumer lending and financial services in Spain and Mexico. Its products use data analytics and technology to support credit assessment and deliver financing solutions to individual customers.
Its flagship platform, Plazo, launched in 2021 and offers an integrated range of personal finance services, including an electronic money account, debit card, cashback rewards and consumer credit. The platform also provides Buy Now, Pay Later (BNPL) services.
ID Finance plans to use the new financing to expand Plazo’s product portfolio and develop additional capabilities for the Spanish consumer credit market. The expansion includes Turrón by Plazo, a flexible payment solution introduced in 2026 that allows consumers to make purchases online and in physical stores through instalment-based payment options.
Plazo reported more than 400,000 users and achieved profitability in 2025. According to ID Finance, the platform’s revenue increased by 300% year over year during the same period.
The latest transaction follows a $150 million debt financing agreement with i80 Group in early 2024, which supported the expansion of Plazo’s credit portfolio.
With the additional financing, ID Finance intends to broaden Plazo’s consumer finance offerings, expand its merchant partnerships and further develop its technology infrastructure to support lending and payment services in Spain.
