ID Finance bags $30m debt facility to boost growth in Mexico
Spanish fintech ID Finance has secured a $30 million debt facility from SR Alternative Credit to support its consumer lending business in Mexico.
Boris Batine and Alexander Dunaev, co-founders of ID Finance
The funding follows its recent €30 million equity fundraise from UK-based asset manager Kingsway Capital.
The debt facility has been structured through a Master Collection Trust Fund set up in Mexico with Actinver Bank. ID Finance says this structure will allow it to “efficiently operate cashflows, while ensuring a safe and convenient cash control tool for the investor”.
ID Finance will use the new facility to accelerate its growth in Mexico. The firm claims to serve over two million registered users in the country and originated over €98 million in consumer loans in 2022.
Peter Faigl, chief investment officer at SR Alternative Credit, says ID Finance’s “strong track record” will help it attract “new underserved customers” and further promote financial inclusion in Latin America.
Founded in 2015, Barcelona-based ID Finance offers lending solutions powered by machine learning and analytics and claims to have processed more than 10 million credit applications since inception.
