ID Finance shares financial results and webinar recording
ID Finance has shared the following financial and operational updates:
- The war in Ukraine and sanctions against Russia do not significantly impact ID Finance’s ability to carry out its day-to-day operations in Spain and Mexico, financial or otherwise, as the company has no operations in Russia, Belarus, or Ukraine.
- ID Finance group closed 2021 with the company’s best financial results so far: Global revenue rose by 37% to €142 million, net profit in Spain tripled to €10.5 million, and revenue in Mexico increased by 48% to €47.2 million while net profit totalled €1.7 million.
- The good performance globally is mainly due to an increasing credit demand in both markets, where the company has over 5.5 million customers, 2 million more than in 2020. Overall, credit issuance surpassed €300 million, 80% more than in the previous year. The company has once again been included in the FT 1000 ranking as one of the fastest growing companies in Europe in 2022.
- In addition, in 2021, ID Finance successfully closed its second crowdfunding campaign on Crowdcube.
- ID Finance had a strong start into 2022, with overall revenue totalling €15 million in January (+67% YoY) after issuing €32 million in loans (+89% YoY).
ID Finance invites investors on Mintos to join its webinar on 10 March at 14:00 CET. The webinar will be hosted by Boris Batine, co-founder and CEO of ID Finance. During the webinar, ID Finance representatives will talk about the company’s 2021 results and the plans for 2022. Investors will have the opportunity to ask questions in the Zoom chat.