ID Finance, the emerging markets fintech company, has been ranked 36th in the FT 1000 list of Europe’s fastest growing companies.
The Financial Times’ FT 1000 lists the companies in 31 European countries that have achieved the highest compound annual growth rate in revenue between 2013 and 2016. ID Finance ranked 36th with 2013-2016 growth of 2,683%.
ID Finance is a balance sheet lender which uses machine learning and advanced data science techniques to improve access to competitive financial services. Founded in Russia in 2012, ID Finance moved its headquarters to Barcelona in 2016 and now has over 520 staff spread across its operations in Spain, Georgia, Russia, Kazakhstan, Poland, Brazil, Mexico, with R&D located in Minks, Belarus.
The company reached profitability in 2015 and grew revenue from $65m in 2016 to $122m in 2017. It now has 5.3m registered clients.
“We are delighted to be recognised by the FT as one of the fastest growing companies in Europe,” comments Boris Batine, Co-founder and CEO, ID Finance. “It is testament to both the efforts of our talented team and the strength of our data science and credit scoring technology. Looking ahead we have a strong set of growth plans for the year and will continue our Americas expansion with a launch in Colombia later this year with the US and Peru to follow.”
ID Finance saw 89% revenue growth in 2017 following continued diversification across products and its successful expansion into the Brazilian and Mexican online lending markets. It issues over 60,000 loans each month with monthly revenue of $15m.