ID Finance raises €545M in debt and equity to scale its Plazo app in Spain

Barcelona-based ID Finance has raised €545 million in a mix of debt and equity, which the company calls one of the biggest rounds by a Spanish fintech in recent years. Spice Expeditions, WashU, Kingsway Capital and i80 Group took part. The split between debt and equity was not disclosed.

Co-founded by Boris Batine and Alexander Dunaev, ID Finance runs Plazo, a consumer app that combines payments, shopping rewards and short-term credit, and has expanded into buy now, pay later.

Plazo tripled its loan portfolio in 2025 and reached profitability, according to Dunaev, who credits AI-driven underwriting.

The money will go into widening Plazo's product range as ID Finance aims to make it Spain's go-to consumer credit platform.