ID Finance plans new equity round on Crowdcube

Spanish credit scoring and risk management system developer ID Finance is looking to raise money on Crowdcube, the crowdfunding platform.

The news comes after the company saw revenue grow by 100% in the first three quarters of 2019.

“We continue to see very considerable opportunity both in Spain and Latam, where there is a deep structural demand for credit that is not being met by incumbents,” said Boris Batin, CEO and co-founder at ID Finance, when speaking with EU-Startups. “Our upcoming equity crowdfunding round is a unique opportunity for retail investors to gain exposure to one of the world’s most exciting regions for FinTech.”

ID Finance previously secured $8.5m back in December 2017 and $50m for its Latin American expansion in February that year.

The news comes after Spain had closed 114 between 2014 and the first six months of 2019, making it the sixth most popular destination for VC capital in Europe, according to FinTech Global’s data.

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