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HomeFundingID Finance bags $30m debt facility to boost growth in Mexico

ID Finance bags $30m debt facility to boost growth in Mexico

Date:

Spanish fintech ID Finance has secured a $30 million debt facility from SR Alternative Credit to support its consumer lending business in Mexico. The funding will accelerate its growth in the country.

Facts

  • ID Finance has secured a $30 million debt facility from SR Alternative Credit to support its consumer lending business in Mexico.
  • The debt facility has been structured through a Master Collection Trust Fund set up in Mexico with Actinver Bank.
  • ID Finance will use the new facility to accelerate its growth in Mexico.
  • ID Finance claims to serve over two million registered users in the country and originated over €98 million in consumer loans in 2022.
  • Peter Faigl, chief investment officer at SR Alternative Credit, says ID Finance’s “strong track record” will help it attract “new underserved customers” and further promote financial inclusion in Latin America.
  • ID Finance offers lending solutions powered by machine learning and analytics and claims to have processed more than 10 million credit applications since inception.
  • The funding follows ID Finance’s recent €30 million equity fundraise from UK-based asset manager Kingsway Capital.

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