One of Spain’s largest recent FinTech deals sees ID Finance secure €545 million to scale Plazo

Barcelona-based FinTech group ID Finance has secured €545 million in debt and equity funding to expand its flagship consumer finance app, Plazo. The investment came from various sources, including Spice Expeditions, WashU, Kingsway Capital, and i80 Group, who provided asset-based financing. Alexander Dunaev, co-founder of ID Finance, stated that the investment is a strong endorsement of Plazo and the company's model of modernizing consumer credit in Spain and Mexico.

Plazo's portfolio expanded threefold in 2025 and achieved profitability, demonstrating that responsible, AI-driven underwriting and an enhanced user experience can scale together. The new capital will allow ID Finance to further develop Plazo's product offerings, including the recently launched Turrón by Plazo, a flexible payment solution that combines an e-money account, debit card, and Buy Now, Pay Later (BNPL) service.

This transaction is one of the largest closed by a Spanish FinTech in recent years, following a €134 million debt financing round by i80 Group in early 2024. Plazo's profitability grew by nearly 200% in 2025, with revenue reaching €243 million and the user base expanding to over 400,000 customers. With continued growth expected in 2026, Plazo's expansion is supported by AI-powered technology infrastructure and the recently secured funding.