25^th of May, 2023 - ID Finance Spain, the leading alternative lending brand in the country, has posted a strong financial result ⁽*⁾ in the first quarter of 2023. The company generated a robust revenue of €29M, after hitting a new portfolio milestone, surpassing the €50M mark, which represents a 5% year-to-year increase.

Throughout the first three months of 2023, MoneyMan, ID Finance Spain's core product, contributed with over €700,000 to the net profit per month (totalling €2.2 million for the quarter). Part of this profit, approximately €200,000, was reinvested. into the development of new innovative financial solutions aimed at providing customers with new attractive product features. 

The company also maintained a strong capital position, resulting in an equity to assets level of 26.7%, a 3-percentage-point increase compared to December 2022.

Focus on the performance excellence

The team of ID Finance Spain continues to exhibit operational excellence, effectively managing the business across various economic cycles. This exceptional performance has translated into consistent profitability, sustained portfolio growth, and the maintenance of market leadership.

Boris Batine, co-founder of ID Finance, emphasized the company's strategic approach, stating: "In this uncertain environment, we have chosen to shift our focus from rapid growth to optimizing internal processes and maintaining appropriate risk levels to ensure sustainable profitability. This approach guarantees a safe harbor for our valued investors in such an uncertain world. Meanwhile, we continue to develop new products, enhance our clients' experience, and lay the groundwork for our next stage of growth."

Improvement of bond conditions for investors

As an investor-friendly organization, ID Finance provides opportunities for retail investors to participate in the company's growth offering generous returns while ensuring low risk levels. The company's €40 million Eurobond program (ISIN: XS2231806394) is available for trade on the Frankfurt Stock Exchange, enabling investors to invest starting from €1,000.


⁽*⁾Note: Financial statements are accessible on ID Finance website (). The financial figures stated in this press release are unaudited and reflect the performance of ID Finance Spain during the first quarter of 2023. The information is accurate as of the publication date.
 

About ID Finance Spain

ID Finance Spain is the leading alternative lending brand in Spain, specialized in providing innovative financial solutions. With a commitment to responsible practices, the company has consistently achieved strong financial performance while maintaining the highest standards of integrity and customer satisfaction. With a commitment to responsible practices, the company has consistently achieved strong financial performance while maintaining the highest standards of integrity and customer satisfaction.

For media inquiries, please contact:

Katia Ballano Göring
PR & Comms manager ID Finance