ID Finance secures $30m debt facility from SR Alternative Credit

By Leandra Monteiro

ID Finance recently announce that it has secured a $30 million debt facility from SR Alternative Credit, an affiliate of Spouting Rock Asset Management.

The company aims to use this significant investment to continue to support the growth of its consumer lending business in Mexico. In the last few years, the company has witnessed significant traction in Mexico, with over 2 million unique registered users.

Commenting on the funds, Leslie Sánchez, Country Manager of ID Finance Mexico, said, “We are excited to take our consumer finance business in Mexico to the next level and position ourselves as ultimate market leaders in that segment. We have the talent and the expertise to keep maximizing ID Finance potential in Mexico”.

ID Finance is a FinTech present in Europe and Latin America. Its main offering is focused on providing retail banking and finance solutions. The company is among the fastest-growing FinTech companies in Europe. Besides, it is also the first carbon-neutral financial technology firm in the region.

The company is consistently profitable and since its inception in 2015, it has processed over 9 million credit applications. In 2021 ID Finance launched Plazo, the first Spanish credit-led challenger bank. It is currently offering a free Mastercard debit card which comes with one of the most attractive cashbacks in the country. Besides, it is expanding its services to a wide range of purchase and credit solutions.