ID Finance achieved a 12% M-o-M growth in issuance in Spain and 13% in LatAm. Profitability of MoneyMan Spain has continued to improve. The company saw net income of $1.9m for the first 4 months of the year and $6m net income run rate for 2019. Moneyman is still the fastest growing alternative finance brand in the countries in which it is active.
Business growth comes amid a high level of investment activity in the global fintech sector. According to FT Partners investment boutique, there were $10bn of financing deals and $112bn of M&A deals amounts in 1Q2019. The most active companies with $100m+ financings were challenger banks Chime, OakNorth and N26, and real estate tech representatives Knock and Opendoor.