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Issuer: ID Finance Investments, S.L.
/ Key word(s): Preliminary Results/Preliminary Results
26th of June 2023 - ID Finance's core business, specializing in digital consumer loans in Spain and Mexico, has continued delivering exceptional results during the first five months of the year. The monthly credit origination of the consumer loans platforms in both countries delivered a significant increase of 18%, up to 32M€, compared to December 2022, thus consolidating its leadership in the Spanish market as top 1 alternative lending brand and top 2 in Mexico. In the case of Mexico, the growth was primarily fuelled by the successful onboarding of a $30M debt facility closed in Q1 with US asset manager Spouting Rock. The surge was also driven by a consistent increase of the product demand, with over 600,000 new unique registered users, totalling 5.3M in May of 2023. As a result of the positive evolution, the net profit of the core businesses in Spain and Mexico from January to May 2023 amounted to €4.4M, following the annual net consolidate profit of €6.3M delivered in 2022. The consistent performance of ID Finance core operations, alongside its unique market position paves the way for its financial wellness app Plazo to keep succeeding. Since the beginning of the year, the app has been showing great traction, not only in terms of users, which have already surpassed the 130,000 mark, but also of increasing customer engagement. Plazo is expected to keep its rapid growth following the €30M round closed with UK institutional investor Kingsway Capital earlier this year. ID Finance Eurobond available for retail investors Given the interest detected among retail investors, ID Finance has recently reduced the minimum amount of its Eurobond listed on the Frankfurt Stock Exchange () to invite a bigger investor community to participate at the on-going success of ID Finance and its flagship financial wellness app Plazo.
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. It is among the few financial technology firms in Spain and Mexico that measures and compensates its carbon footprint. In Spain, ID Finance alternative lending platform has recently consolidated as market leader and keeps constantly growing its customer base. In addition, in 2021 ID Finance launched its financial wellness app developed with a mix of cutting-edge technology to offer debit, saving and credit solutions to help people achieve financial wellness.
For media inquiries, please contact: Katia Ballano Göring
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