ID Finance has secured €545 million in debt and equity financing from international investors to accelerate the growth of Plazo, its consumer finance platform in Spain.
The financing includes participation from Spice Expeditions, WashU, Kingsway Capital, and i80 Group, with i80 providing asset-based financing. ID Finance plans to use the capital to expand Plazo’s product portfolio, increase lending capacity, and continue developing its technology infrastructure.
The transaction follows a $150 million debt financing provided by i80 Group in early 2024 that was used to expand Plazo’s credit portfolio. ID Finance described the new €545 million package as one of the larger Spanish fintech financing transactions completed in recent years.
ID Finance generated €243 million in revenue during 2025, while group profit nearly doubled. Plazo reached bottom-line profitability during the year as revenue increased 300% year over year and its customer base grew to more than 400,000 users.
The company expects Plazo to grow another 300% during 2026 with support from additional financing and its AI-powered technology infrastructure, although that target remains a company projection rather than a realized result.
ID Finance has also expanded Plazo with Turrón by Plazo, a flexible payment product that combines an e-money account, debit card, and Buy Now, Pay Later functionality for online and in-store purchases. The company is now focused on expanding the product’s merchant network.
Management sees the combination of Plazo and Turrón as part of a broader effort to build a more comprehensive consumer credit platform in Spain while using data and AI-supported underwriting to manage credit risk.
KEY QUOTES:
“This investment is a strong vote of confidence in Plazo and in the model we’ve built to modernise consumer credit in Spain. Plazo tripled its portfolio in 2025 and reached profitability, proving that responsible, AI-driven underwriting and a genuinely better product experience can scale together.”
Alexander Dunaev, Co-Founder Of ID Finance
“It has been a pleasure to partner with ID Finance over the last few years, supporting their mission to provide access to financial services to all consumers in Spain and Mexico.”
Tamir Saeed, Managing Partner At Kingsway Capital
“ID Finance has done a tremendous job of managing risk while growing the portfolio. We’re delighted to deepen our relationship and increase the scale of the asset-based financing that will support Plazo’s next phase of growth.”
Peter Frank, Managing Director At i80
