ID Finance featured in ABC newspaper as one of the companies that closed mega-rounds in 2024

The Spanish newspaper ABC has published a news feature in its Empresa supplement discussing the rise of mega-rounds in Spain’s startup ecosystem. These funding rounds, considered “mega” when they exceed €50 million, accounted for 55% of the total capital raised in the first nine months of 2024, according to a recent report by the Fundación Innovación Bankinter.

Among the most notable transactions mentioned, the report highlights the nearly €140 million debt financing round that ID Finance secured in early 2024 with the global investment firm i80. Alexander Dunaev, co-founder and COO of ID Finance, explained to ABC that the purpose of this operation is to continue developing the financial wellness app Plazo. He indicated that it will enable the company to expand its range of value-added features and increase its credit portfolio, aiming to enhance its consumer financing capacity in the coming years.

Overall, the article emphasizes how these capital injections boost companies’ scalability, bringing them closer to “unicorn” status—firms valued at over $1 billion without being publicly traded. Additionally, it highlights the predominant involvement of foreign capital in these rounds, reflecting the growing appeal of Spanish startups to international investors.

This acknowledgment in a prestigious outlet like ABC reinforces ID Finance’s position in the Spanish entrepreneurial ecosystem and underscores its commitment to innovation and growth in the fintech sector.

To read the full article, you can access the following link: La gasolina de las megarrondas da alas al emprendimiento innovador.