ID Finance, which claims to be the fastest growing FinTech in Spain and Mexico, has reached the ?1m target for its crowdfunding campaign on Crowdcube.
The FinTech company has received commitments from 495 investors, in exchange for 0.49% of its equity. Shares are priced at ?8.09 apiece and ID Finance is raising the money at a ?220m pre-money valuation.
It previously raised ?5.4m in a crowdfunding investment back in 2019, which was the largest round on Crowdcube that year of a non-UK company.
ID Finance is a data science, credit scoring and digital finance company. It offers a free online account, zero commissions card with cashback and discounts, and offers rewards for shopping.
In the future, it plans to release a buy now, pay later service, and saving and investing tools.
It has recorded a strong year, with a year-to-date profit of ?1.7m, compared to last year -?8.5m loss.
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