ID Finance Secures €545 Million Funding to Expand Consumer Credit App Plazo
The Barcelona-based fintech group announced the investment to grow its product suite and reach more users in Spain and Mexico.
14 Oct 2026 2 reads Compiled with AI
#ID Finance #Plazo #Spain #Kingsway Capital
Barcelona-based ID Finance has announced it secured €545 million in debt and equity funding. This capital will support further growth for their flagship consumer finance app, Plazo. The group states this is one of the largest transactions completed by a Spanish fintech in recent years.
Several international investors participated in the financing round including Spice Expeditions and WashU. Global investment firm i80 Group provided asset-based financing alongside Kingsway Capital. Alexander Dunaev, co-founder of ID Finance, said the investment is a strong vote of confidence in their business model.
Founded in 2015, ID Finance provides alternative lending in both Spain and Mexico. Plazo was launched in 2021 to bring debit and credit solutions together on a single platform. The company aims for this application to become Spain’s go-to consumer credit platform.
The app combines payments, shopping rewards and short-term borrowing within its interface. It has also expanded into Buy Now, Pay Later services which allow users to defer payment for purchases. ID Finance said the funding will be used to expand this product suite.
As part of continued expansion, ID Finance recently launched Turrón by Plazo as a flexible payment solution. This combines an e-money account and debit card with the Buy Now, Pay Later service for online and in-store purchases. This marks another step towards creating a broader consumer credit platform.
In 2025, the Group reported €243 million in revenue while profit nearly doubled during the same period. Plazo achieved profitability as its revenue grew 300% year-on-year and client base reached over 400,000 users.
This funding comes amid wider investment activity in European consumer credit during 2026. Other companies like Plend and Vuelo secured significant credit facilities in the same timeframe. Together these five announcements represent around €951 million in recent transactions.
Supported by AI-powered technology infrastructure, Plazo is expected to grow another 300% in 2026. Peter Frank from i80 Group noted the company has done a tremendous job of managing risk while growing the portfolio. The new capital will support the next phase of growth as they continue to modernise consumer credit in Europe.