ID Finance is a fintech company that builds accessible financial applications focused on consumer lending and financial wellness. Its flagship app, Plazo, offers cashback rewards, value-added services, and flexible payment solutions, including the Turrón BNPL card that automatically splits purchases into interest-free installments. The company leverages proprietary technology and data analytics to deliver responsible, sustainable financial services to underserved consumers in Spain and Mexico.
Funding
$188.9M 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
Traditional banks often fail to provide fast, accessible, and fair credit options for consumers who need small, short-term loans or flexible payment solutions. This leaves many individuals underserved, facing complex application processes, rigid repayment terms, and limited access to financial tools that support their overall financial well-being.
Solution
ID Finance provides a digital financial platform centered around the Plazo app, which combines consumer lending, cashback rewards, and value-added services to help users manage their money more effectively. The platform offers a fully digital loan origination process, enabling quick access to credit, while the Turrón by Plazo card automatically splits eligible purchases at partner merchants into interest-free installments without requiring extra steps at checkout. By integrating payments, financing, and financial wellness tools into a single app, ID Finance aims to give customers greater purchasing power and financial stability. The company leverages proprietary technology and big data analytics to ensure responsible lending and sustainable business growth.
Target Audience
Primary customers are consumers in Spain and Mexico who are underserved by traditional banks and seek accessible credit, flexible payment options, and tools to improve their financial wellness.
Features
- Plazo app integrates consumer loans, a cashback program, and value-added services like medical, legal, and veterinary consultations
- Turrón by Plazo combines an e-money account, debit card, and BNPL solution, automatically splitting purchases at partner retailers into interest-free installments
- Transparent repayment schedules displayed in-app before purchase, with standard three-month terms and up to 12 months for larger purchases
- Fully digital loan origination process for small, short-term loans with a focus on responsible underwriting and risk management
- Proprietary technology platform and big data analytics to drive credit decisions and operational efficiency