€545m · Other round · Fintech · Barcelona, Spain
Barcelona-based ID Finance has raised €545m in debt and equity financing from Spice Expeditions, WashU, Kingsway Capital and i80 Group. According to the company announcement, i80 supplied the asset-based financing component, while the capital will support the expansion of Plazo, its consumer-finance app.
The transaction combines €500m of structured debt from i80 with €45m of equity, according to La Vanguardia. The debt/equity split matters because much of the headline amount is lending capacity for the credit book rather than unrestricted growth capital.
Funding the balance sheet and the product at once
Plazo provides consumer credit through a mobile app, and ID Finance says the product passed 400,000 users and reached bottom-line profitability in 2025 after revenue grew 300% year on year. The group reported €243m of revenue for the same year. Those figures are company-reported, but they explain the structure of the new financing: a lending platform needs funding for both product development and the receivables created when customers draw credit.
The asset-backed facility from i80 can expand the pool of loans Plazo is able to originate, while the equity portion can fund product and distribution work that does not sit naturally inside a receivables facility. This pairing reduces the risk that product expansion competes directly with balance-sheet capacity for cash, but it also means execution depends on credit performance as volume grows. i80 specifically pointed to ID Finance’s risk management while scaling the portfolio as a reason for deepening the relationship.
From credit app to checkout distribution
ID Finance is also extending Plazo beyond a standalone lending app through Turrón, launched in July 2026. The product combines an e-money account, debit card and buy-now-pay-later option for online and in-store purchases. The company says it is now building a partner-merchant network, which shifts part of the growth challenge from acquiring borrowers directly to securing distribution at the point of sale.
That merchant rollout gives the financing a concrete commercial test. More checkout integrations can create additional credit demand and transaction frequency, while underwriting and collections must keep pace with a broader purchase mix. ID Finance says Plazo tripled its portfolio in 2025 and expects further rapid growth in 2026; the more useful milestone will be whether the larger facility and merchant network can expand originations without weakening the profitability Plazo reported last year.
Sources checked:
ID Finance announcement · La Vanguardia · ID Finance company profile · Tech.eu Funding Explorer
