ID Finance Spain has published its audited financial results for Q1 2023. The company has provided the following operational and financial information:
In 2022, ID Finance recorded a revenue of €170M and a profit of €6.3M. The company reported hitting a new portfolio milestone in Q1 2023, surpassing the €50M mark, which represents a 5% year-to-year increase.
Throughout the first five months of 2023, MoneyMan, ID Finance Spain’s core product, contributed €3.8M to the net profit. Part of this profit, approximately €300 000, was reinvested into the development of new financial solutions aimed at providing customers with new product features.
The company also maintained a strong capital position, resulting in an equity to-assets level of 27.2%, a 3% increase compared to December 2022.
“In this uncertain environment, we have chosen to shift our focus from rapid growth to optimizing internal processes and maintaining appropriate risk levels to ensure sustainable profitability. This approach guarantees a safe harbor for our valued investors in such an uncertain world. Meanwhile, we continue to develop new products, enhance our client's experience, and lay the groundwork for our next stage of growth.”
ID Finance provides opportunities for retail investors to participate in the company’s growth. The company’s €40 million Eurobond program (ISIN: XS2231806394) is available for trade on the Frankfurt Stock Exchange, enabling investors to invest starting from €1 000.
ID Finance is offering investors the opportunity to participate in the €30M equity round that recently closed with UK asset manager, Kingsway Capital. By participating, investors will become part of ID Finance’s growth journey, with a focus on the expansion and rollout of the company’s flagship financial wellness app, Plazo, in Southern Europe and Latin America. Their previous two crowdfunding campaigns on Crowdcube raised nearly €8.9M in equity.
For a limited time, you can earn up to 3% cashback for investments in Notes for ID Finance Spain:
- 1% for Notes with a remaining term of up to 30 days
- 2% for Notes with a remaining term of 31 days to 3 months
- 3% for Notes with a remaining term of 3 months 1 day and more
This offer is valid from 19 to 30 June 2023.
About ID Finance
ID Finance is a data science, credit scoring, and digital finance company that is pioneering fintech innovation in emerging markets with a range of convenient, competitive, and transparent loan products available over the internet. The company uses machine learning and advanced data science techniques to improve access to competitive financial services. Headquartered in Barcelona, ID Finance operates under the MoneyMan and Plazo brands in Spain and Mexico. The company’s founders previously worked in banking, including Deutsche Bank and Royal Bank of Scotland. ID Finance is trusted by both private and institutional investors around the world. The company has been ranked by FT 1 000 as one of Europe’s fastest-growing companies for the sixth year in a row. It was also rated among the hottest startups in Barcelona by Wired magazine.
