ID Finance lands $150m debt financing headed by i80 Group

Barcelona-based ID Finance has secured $150 million in debt financing from i80 Group to accelerate the growth of its Plazo app.
ID Finance specializes in alternative lending solutions and operates in Europe and Latin America.
The Plazo app, launched in Spain in 2021, aims to provide users with greater control over their finances through credit, transactional, and savings solutions.
The latest funding round will be used to scale the app’s lending capabilities.
ID Finance plans to broaden its service offerings by collaborating with digital consultation platform Meeting Pros, providing users with complimentary access to medical, legal, and veterinary consultations via the app.
The financing deal with i80 Group follows ID Finance’s 2023 financial performance, reporting a consolidated net income of €7.1 million, a 13% year-over-year growth.
i80 Group, headquartered in New York, has recently funded San Francisco fintech Cardless with $75 million and provided an $80 million credit facility to Latin American startup Kiwi last year.