ID Finance, the consumer finance group behind the Plazo app, has raised €545m in a combined equity and debt package, giving its flagship product the firepower to challenge how credit is delivered across Spain.
Backing for the deal came from Spice Expeditions, WashU and Kingsway Capital, alongside global investment firm i80 Group, which contributed asset-based financing. The capital is earmarked for Plazo, which ID Finance regards as a core element of its long-term strategy, and will be used to broaden the app’s range of products and strengthen its capabilities.
The transaction ranks among the biggest completed by a Spanish FinTech in recent years. It arrives two years after i80 Group supplied $150m in debt financing in early 2024, a facility that ID Finance used to expand the Plazo loan book.
The raise caps a period of robust results for the business. ID Finance posted €243m in revenue in 2025, and its profit almost doubled over the same twelve months. Plazo turned profitable at the bottom line during 2025, with revenue climbing 300% year on year and its customer base surpassing 400,000.
The company views that performance as proof that its model works and is now putting the fresh funds to work on that base.
With further financing in place, ID Finance expects Plazo to deliver another 300% expansion in 2026, underpinned by technology infrastructure powered by AI. The company says this trajectory reflects how quickly users are taking up the app and how central it is becoming to the wider group.
ID Finance operates consumer finance services and, according to Kingsway Capital, aims to widen access to financial products for consumers in both Spain and Mexico. Plazo serves as its main consumer credit app in the Spanish market.
The group has also recently introduced Turrón by Plazo, a flexible payments product that lets shoppers buy goods online and in physical stores. Turrón brings together an e-money account, a debit card and a Buy Now, Pay Later (BNPL) offering in a single proposition.
Having launched the product, ID Finance is now concentrating on signing up more partner merchants, with BNPL forming part of its ambition to become the leading consumer credit platform in Spain.
ID Finance co-founder Alexander Dunaev said, “This investment is a strong vote of confidence in Plazo and in the model we’ve built to modernise consumer credit in Spain. Plazo tripled its portfolio in 2025 and reached profitability, proving that responsible, AI-driven underwriting and a genuinely better product experience can scale together.
“This new capital from some of the most reputable global investors in fintech lets us build on that foundation, expand Plazo’s product suite and keep pushing on innovation, including through Turrón”.
Copyright © 2026 FinTech Global
