ID Finance secures £1.5m within minutes on Crowdcube

ID Finance, the fintech company operating in Europe and Latin America, has raised over £1.5m crowdfunding target within minutes of its campaign going live on Crowdcube amid strong demand from investors.

The data science, credit scoring and digital finance company has a crowdfunding target of £2m and is inviting interested parties to invest at https://www.crowdcube.com/idfinance.

ID Finance’s proprietary risk management system uses machine learning and advanced data science techniques to provide competitive financial services to the underbanked and help customers build their credit profile. Anyone with a smartphone in Spain, Brazil and Mexico can apply online for a loan via its Moneyman and Plazo brands, regardless of their credit history. The process is fast, transparent and hassle-free.

The company has a well established global team and over 3 million users, with over 40,000 new users joining each week. It is on track to double revenues this year to €90m – up from €13m in 2017 – and is targeting €267m+ of revenue by 2021, with the goal of becoming the number one digital lending platform in Hispanic and Latino markets.

ID Finance is looking to raise £2m on crowdfunding platform Crowdcube at a pre-money valuation of £81m. Within a few minutes of the campaign going live it had raised £1.5m from 146 investors.

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Source: ID Finance secures £1.5m within minutes on Crowdcube