ID Finance: Raises €30M in Equity Round Led by Kingsway Capital

ID Finance: Raises €30M in Equity Round Led by Kingsway Capital

• ID Finance secures a €30M investment led by Kingsway Capital, a UK-based asset manager.
• The transaction has been officially endorsed by the Spanish Council of Ministers and is the biggest investment inflow into a Spanish fintech in 2023.
• The investment includes both a primary capital infusion and a buyout of shares from the company’s early investors.
• The capital injection is structured as a convertible loan with a maximum valuation of €235M.
• The capital will be used for the organic growth of the business, specifically the roll-out of Plazo
• Co-founder Boris Batine will assume the role of CEO of Plazo.