Ibancar provides fully online personal loans secured by the borrower’s car, enabling customers in Spain to obtain up to €8,000 with same‑day funding. The platform digitizes the application, vehicle valuation, contract signing and repayment management, allowing quick access to credit for individuals with limited credit history.
Funding
$11.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many consumers need quick access to cash but lack sufficient credit history or unsecured loan options, and traditional lenders often require lengthy in‑person processes and collateral verification, causing delays and limiting borrowing flexibility.
Solution
Ibancar offers fully online personal loans secured by the borrower’s car as collateral. The platform digitizes the entire application, valuation, and contract signing process, allowing applicants to receive approval and funding—up to €8,000—within the same day. By using the vehicle as a guarantee, Ibancar can extend credit to customers with limited credit scores while mitigating risk for the lender. Funds are transferred directly to the borrower’s bank account, and repayment terms are managed through a secure online portal.
Target Audience
Primary customers are individuals in Spain who own a car, need short‑term financing, and prefer a fast, fully online borrowing experience.
Features
- End‑to‑end digital loan application with electronic identity verification
- Real‑time vehicle valuation using integrated automotive data sources
- Same‑day funding for approved loans up to €8,000
- Online contract management and automated repayment scheduling
- Secure portal for document upload, loan tracking, and customer support