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Fintech company ID Finance has secured a €21 million debt facility from German asset manager nordIX to support the continued growth of its consumer lending business in Spain.

Founded in Barcelona in 2015, ID Finance operates in Spain and Mexico, providing digital financial services focused on consumer lending. The company has more than 3.7 million registered users in Spain, where it offers small, short-term consumer loans through a digital platform.

ID Finance will use the new facility to finance additional consumer loans originated through its platform and expand its credit portfolio in Spain. The financing will increase the capital available for new loan originations and add to the company's institutional funding sources.

During the first half of the year, ID Finance originated more than €190 million in consumer loans in Spain and reported approximately €100 million in revenue.

According to Boris Batine, co-founder and CEO of ID Finance, the agreement represents a further step in expanding the company's alternative lending platform in Spain.

By increasing our lending capacity, it will enable us to finance more originations and continue expanding the portfolio. nordIX’s support also reflects investor confidence in the platform’s operating model, its established track record in Spain and the disciplined approach to risk management that has underpinned its growth.

The debt facility forms part of ID Finance's broader funding strategy to diversify its sources of institutional capital and support the longer-term development of its consumer lending business in Spain.

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