ID Finance predicts €90m in revenue in 2019, plans crowdfunding round on Crowdcube

14.10.2019

mintosblog

ID Finance – one of the largest loan originators on Mintos and the fastest-growing fintech in Spain saw revenue growth of over 100% in the first 9 months of 2019 and is on track to double its revenues to €90 million revenue in 2019.

ID Finance is now planning to raise additional funds via UK-based crowdfunding giant Crowdcube. The investment amount is limited and priority access will be given to those who pre-register on its website.

The company is launching a crowdfunding campaign following its outstanding results for the first nine months of 2019.

Successful fintech companies, which have held similar campaigns on Crowdcube, show a significant increase in capitalisation:

– Monzo has grown up to 6,560% in three years

– Revolut’s investors return amounted to almost 2,730%

ID Finance performance based on region

In Latin America, the loan issuance has increased 3.4 times, driven by Mexico, which is the fastest-growing company in the ID Finance group. The registered users’ base has increased by fivefold during the last 12 months. 

The Group’s Spanish business strengthened its profitability for the first 9 months of 2019, achieving a net income run rate of $5 million for 2019. At the same time, its loan issuance has grown by 2.3 times.

ID Finance in Kazakhstan

The cumulative loan issuance in Kazakhstan has grown by 1.5 times, reaching $200 million to date. In addition, its registered users have doubled during the last 12 months with more than 1.7 million registered users.

Furthermore, the company has increased interest rates offered to investors in the local currency (Kazakhstani tenge – KZT) from 17% to 20 % to attract the growth in the region as ID Finance sees high demand for its services.

In the first half of 2019, the volume of loan issuance of Solva.kz was KZT 9.3 billion which is 4.9 times higher compared to the same period in 2018. In the same period, the revenue for the first half of 2019 amounted to KZT 2.06 billion.

Solva successfully implemented a project of lending and refinancing of individual entrepreneurs, which is relevant in Kazakhstan. For this purpose, a separate scoring has been specially developed and launched. These factors allowed the company to significantly increase its monthly loans issuance – more than KZT 2 billion over the past 3 months. Thus, expanding the company’s product line, it was possible to segment the customer base and increase its portfolio.

 

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