Since the previous crowdfunding round in 2019, ID Finance has doubled its operations while ensuring profitable growth and has become the first carbon-neutral fintech in Spain and Mexico.
Now, the company has over 5 million registered users, it has generated €100 million in revenue year to date, and it holds leadership positions in both markets being the fastest-growing fintech in Spain and Mexico, according to Financial Time’s 2020 FT 1000 ranking.
This year, ID Finance launched its new financial wellness app Plazo. In this regard, ID Finance aims to raise new funds for the further development of the integrated financial platform offering a wide range of financial solutions accessible to everyone
Plazo taps into the €400 billion market of Southern Europe & Hispanic America. A large part of this audience is unsatisfied with traditional banks which charge high fees for basic services and often fail to respond to clients’ claims. In this regard, Plazo aims to tap unmet customer needs and help them improve their financial lives by providing a free online account & zero commissions card with cashback & discounts.
In the future, it will expand its offer with a broad line of buy-now-pay-later, saving & investing tools. In Spain it has already become a quite popular platform. Only several months after its launch in the first months of 2021, Plazo has issued over 30 000 debit cards. Its user base keeps growing at a fast pace and is already showing potential to consolidate as the final go-to financial solution.
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