ID Finance secures €21m funding led by German asset manager nordIX

By Puja Sharma

The financing will support new loan originations and the continued growth of ID Finance’s alternative lending platform in Spain

ID Finance, a FinTech group operating in Spain and Mexico, has secured a €21 million debt facility from nordIX, a German specialised asset manager, to support the continued growth of its consumer lending platform in Spain.

With more than 3.7 million unique registered users in Spain, the platform has established itself as the leading alternative lender. The new financing will provide further momentum for ID Finance’s expansion and reinforce its positioning in the Spanish market.

The proceeds will be used to finance new consumer loans originated through the platform and expand its credit portfolio. By increasing the funding available for new originations, the facility will allow ID Finance to respond to continued demand for small, short-term loans delivered through a fully digital process.

At the same time, the agreement broadens and further diversifies the institutional funding base behind ID Finance’s alternative lending activity in Spain, providing additional capacity for its long-term development.

“This agreement marks another important step in the development of our alternative lending platform in Spain,” said Boris Batine, co-founder and CEO of ID Finance. “By increasing our lending capacity, it will enable us to finance more originations and continue expanding the portfolio. nordIX’s support also reflects investor confidence in the platform’s operating model, its established track record in Spain and the disciplined approach to risk management that has underpinned its growth.”

Claus Tumbrägel, Member of the Management Board of nordIX AG, Said, “ID Finance’s disciplined underwriting and strong compliance culture leave it well placed to adapt to regulatory change and to keep winning share as the market evolves. ID Finance is the clear market leader in digital consumer lending and the third lender we partner with in the country. Lenders like ID Finance extend faster, easier, and fairer credit to people traditional banks too often leave behind. This partnership reflects the strategy of our European Consumer Credit Fund, which backs the best non-bank lenders, those with strong digital capability and disciplined underwriting.”

The agreement brings together ID Finance’s experience in digital consumer lending in Spain and nordIX’s specialist expertise in European consumer credit and fixed-income investments. The Hamburg-based asset manager invests in consumer loan portfolios originated by established non-bank lenders and digital finance providers.