ID Finance Investments, S.L.: ID Finance closes 2022 with a record revenue of €170M 

ID Finance closes 2022 with a record revenue of €170M 

28 th of February 2023 - ID Finance, one of the fastest growing Spanish fintech, has closed 2022 with a record revenue of €170M, showing a 20% annual growth, while net profit grew 17% up to €7.4M.

MoneyMan Spain is the key contributor to the group financials

The key driver behind the financial performance was Spanish lending platform MoneyMan with a revenue of €119M and a net income of €10.4M. In this regard, the growth of this product kept sustainable at a 33% pace compared to 2021, thus consolidating MoneyMan as the leading alternative lending brand in Spain. ​

Capital in this market grew to €18.7M, resulting in a strong equity ratio of 24%, exceeding the industry’s average level of around 15%, despite the economic uncertainty that characterized 2022.

Focus on the performance excellence

Overall credit issuance kept growing, reaching a total amount of €340M, of which €240M was issued in Spain. While keeping a sustainable growth, the team managed to reduce acquisition costs by 20% vs. 2021, thus achieving the lowest levels ever registered. The quality of clients kept improving, with a 90 days vintage-based non-performing-loan rate of 9.2% (a 1.1 pp decrease vs. 2021).

Such trend demonstrates significant improvement in unit economics of MoneyMan Spain, which, in combination with being number one choice on the market, will contribute to further successful and profitable growth this year.

On the back of the strong results and growing demand in Spain, ID Finance performed a successful maturity extension of the €40m Eurobond program (ISIN: XS2231806394), finding broad support among bondholders. The company also made several amendments making the terms more favorable for a wider audience of European investors, including a nominal value decrease from €100,000 to €1,000, and introducing financial covenants to ensure financial control for investors. The bonds are available for trading at the Frankfurt Stock Exchange.

Boris Batine, co-founder of ID Finance said: “I am very proud of the team, which achieved strong growth during the challenging year, whilst maintaining profitability of the business. I am confident we will be able to build upon this success and achieve even stronger results in 2023”.

About ID Finance

www.idfinance.com  

ID Finance is a leading finance technology company based in Spain with operations in this country and Mexico. Its main offering is focused on providing retail banking and finance solutions. It is among the few carbon-neutral financial technology firms in Spain and Mexico. The company is consistently profitable and since its inception in 2015 it has processed around 10 million credit applications. In Spain, ID Finance alternative lending platform has recently consolidated as market leader and keeps constantly growing its customer base. In addition, in 2021 ID Finance launched an additional platform developed with a mix of cutting-edge technology to offer debit, saving and credit solutions to help people achieve financial wellness.

For further information, please contact:

Katia Ballano Göring

PR & Comms manager ID Finance Plazo

katia.ballano@idfinance.com

+34 649 799 327