One of Spain’s largest recent FinTech deals sees ID Finance secure €545 million to scale Plazo
ID Finance, a Barcelona-based FinTech group, has announced €545 million of debt and equity funding to support further growth for theit flagship consumer finance app; Plazo.
This funding saw participation from Spice Expeditions, WashU, Kingsway Capital and global investment firm i80 Group, who provided asset-based financing. EU-Startups previously covered ID Finance in October 2019, when the Barcelona-based group secured over €1.7 million through crowdfunding.
Alexander Dunaev, co-founder of ID Finance says: “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.
“This new capital from some of the most reputable global investors in FinTech lets us build on that foundation, expand Plazo’s product suite and keep pushing on innovation, including through Turrón“.
ID Finance’s debt and equity financing comes amid wider investment activity in European consumer credit, flexible payments and specialist lending during 2026.
According to EU-Startups’ coverage, London-based Plend secured a credit facility of up to €58.3 million, fellow UK FinTech Vuelo raised €64 million for its travel financing platform, and Manchester-based Firenze secured €6.8 million for investment-backed lending.
In Spain, Madrid-based BCAS raised €30 million in debt financing to expand its flexible education payment solutions. Meanwhile, Paris-based Aria announced €247 million in equity and debt financing capacity for its embedded B2B finance platform.
Together, these five announcements represent approximately €406 million, rising to around €951 million when including ID Finance’s latest transaction.
Tamir Saeed, Managing Partner at Kingsway Capital, adds: “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. We are pleased to continue investing in this exciting next phase of ID Finance’s journey, exemplified by the high growth and disruptive potential of new products like Plazo and Turron.”
Founded in 2015, ID Finance provides alternative lending in both Spain and Mexico, specialising in providing innovative financial solutions. Plazo plays a key role in this strategy. Launched in 2021, the app brings together debit and credit solutions on a single platform.
As part of its continued expansion, ID Finance recently launched Turrón by Plazo, a flexible payment solution that enables customers to make online and in-store purchases. Turrón combines an e-money account, debit card and Buy Now, Pay Later (BNPL) solution.
The addition of BNPL services marks another step towards in creating Spain’s “go-to” consumer credit platform.
Peter Frank, Managing Director at i80, says: “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 as it continues to modernise consumer credit in Europe.”
Today’s transaction is reportedly one of the largest closed by a Spanish FinTech in recent years and comes two years after the €134 million ($150 million) debt financing round provided by i80 Group in early 2024, that was utilised to grow Plazo’s credit portfolio.
In 2025, the Group reported €243 million in revenue, while profit nearly doubled in the same period. Plazo achieved bottom line profitability in 2025 as its revenue grew 300% YoY, growing client base to over 400,000 users.
Together with additional financing, Plazo is expected to grow another 300% in 2026, supported by AI-powered technology infrastructure.
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