Structured credit facility · Fintech
ID Finance secures $150 million credit facility from i80 Group
The structured debt financing supports expansion of the Plazo consumer-finance app.
ID Finance announced a $150 million financing agreement with i80 Group on February 6, 2024. The structured debt facility supports the expansion of Plazo, the company’s financial-wellness app.
The facility provides capacity to grow consumer lending and broaden Plazo’s services. ID Finance described the transaction as its largest financing to that date.
Plazo combines consumer credit with additional financial services. The agreement with i80 Group was intended to expand the app’s reach in Spain and support further product development.
Use of funds
Expand Plazo lending and financial services
Funding history
Structured credit facility · This round$150M
Equity crowdfunding; final close£5M