ID Finance, the fintech company operating in Europe and Latin America, has surged past its £2m crowdfunding target on Crowdcube and is now overfunding with £2.3m raised from over 700 investors. The Barcelona-based lending-tech scaleup is the second-fastest growing fintech in Europe, according to Financial Times, has enjoyed strong investor demand as it looks to disrupt the LatAm market. The company will continue to take commitments from investors at crowdcube.com/idfinance
ID Finance is a data science, credit scoring and digital finance company that is pioneering fintech innovation in emerging markets with a range of convenient, competitive and transparent loan products available over the internet. The company is now operating in Spain, Brazil and Mexico. Anyone with a smartphone can apply online for a loan via its Moneyman and Plazo brands, regardless of their credit history. The process is fast, transparent and hassle-free.
The company has a well-established global team and over 3 million users, with over 40,000 new users joining each week. It is on track to double revenues this year to €90m – up from €13m in 2017 – and is targeting €267m+ of revenue by 2021, with the goal of becoming the number one digital lending platform in the markets of presence.
“More than 700 investors from over 60 countries have decided to invest in ID Finance during the first week of our equity crowdfunding campaign. We’re delighted to welcome these investors on board as we continue on our mission to address the underbanked,” comments Boris Batin, CEO and co-founder at ID Finance. “We have industry-leading technology, a financially prudent business model and a well established international team ready to scale in some of the most exciting markets for fintech.
ID Finance operations in Spain are profitable after three years and it is aiming for break-even in the short term. The company was recently selected by Euronext, owner of the Paris Stock Exchange, for its pre-IPO program. The TechShare program is designed for technology companies and helps to prepare them for potential entry into the stock exchange.
Luke Lang, co-founder and CMO, Crowdcube said: “We’re not at all surprised by the high level of investor interest. ID Finance has a proven track record and operates in the dynamic Spanish and Latin American markets for fintech – a sector that is attracting huge interest with investors coming to Crowdcube.”
Don’t miss out – invest in ID Finance via Crowdcube today: crowdcube.com/idfinance