ID Finance secures €21M from nordIX to grow its Spanish lending business
Fintech company ID Financehas secured a €21 million debt facility from German asset manager nordIX tosupport the continued growth of its consumer lending business in Spain.Founded in Barcelona in2015,...
Fintech firm ID Finance has obtained a €21 million loan from German asset manager nordIX to further expand its consumer lending services in Spain. Established in Barcelona in 2015, ID Finance operates across Spain and Mexico, offering digital financial solutions centered around consumer loans. The company has amassed over 3.7 million registered users in Spain, providing short-term loans via a digital platform.
ID Finance plans to utilize the new funding to finance additional loans and broaden its credit portfolio in Spain. This increase in capital will aid in new loan originations and bolster the company's institutional funding sources. In the first half of the year, ID Finance originated more than €190 million in Spanish consumer loans, generating approximately €100 million in revenue.
Boris Batine, co-founder and CEO of ID Finance, stated that the loan strengthens the company's alternative lending platform in Spain, enabling greater financing capacity and portfolio growth. nordIX's support underscores investor confidence in the company's operational model, proven performance in Spain, and disciplined risk management approach.
The debt facility aligns with ID Finance's overall funding strategy to diversify institutional capital sources and support the long-term development of its consumer lending business in Spain.
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