Boris Batine: “Investors are very satisfied with our business performance”

Boris Batine: “Investors are very satisfied with our business performance”

Our co-founder, Boris Batine, has recently been interviewed by Fixed-Income, the leading German media outlet for bond investors offering relevant information on the fixed income market.

ID Finance issued a bond in 2020 on the Frankfurt Stock Exchange (ISIN: XS2231806394) with a volume of 40 million euros and a coupon rate of 9.50%. The bond is available on the secondary market *. Even though ID Finance currently has no operations in Germany, there is a significant number of investors situated in the country, alongside France and the Benelux countries.

“Investors are very satisfied with our business performance; we have experienced strong growth, and our financial metrics have improved significantly. We are now in a much stronger position compared to when the bond was originally issued”, he said.

Boris also focused on the performance in Spain: “We have been experiencing strong growth since our inception, and we have been profitable for years. In 2022, our revenue was 118.7 million euros, compared to 64.9 million euros in 2020. The net profit has increased from 3.7 million euros in 2020 to 12.0 million euros in 2022.”

When asked about how ID Finance differentiates itself from competitors such as 4Finance in Spain and IPF in Mexico, Boris emphasized “we have a broader offering than 4finance or IPF. While 4finance only offers loans, we also provide account[DL1] [KB2] [DL3] [DL4] s and other added-value products. Additionally, when it comes to loans, we have a wider range of products. We tailor loans to individual customer needs, including the loan term. In terms of account management, we are more comparable to neobanks like Revolut or N26. We also have a strong market presence in credit cards.”

Regarding the expectations for the near future, Boris highlighted the strong demand and stressed that he anticipates the company will keep growing at a fast pace. “In Mexico, where we are also active, we aim to offer a wide range of products. In Spain, the focus is on growing with established products and gaining additional market share”.

In addition, the media outlet asked about the perspectives of requesting ID Finance’s own banking licence. Even though, Boris described it as the “logical next step” as it would allow ID Finance “to offer an even broader range of products to customers, this is a long-term goal. We need to take it one step at a time.”

Read the whole interview here.

* Form & Denomination The Bonds are serially numbered and in bearer form in the denomination of €1,000 (the “Initial Nominal Amount”) each. The Bonds are not publicly offered and therefore the minimum subscription amount is € 100,000. Trading of the Bonds in the secondary market is permitted for the Initial Nominal Amount. Read the full legal documents one our web section for bond investors.