Mintos originator ID Finance sees portfolio hit €50m
Mintos originator ID Finance Spain saw its portfolio surpass the €50m (£43m) mark in the first quarter of this year, representing a five per cent year-on-year increase.
In the first five months of 2023, MoneyMan, ID Finance Spain’s core product, contributed €3.8m to its net profit, with approximately €300,000 being reinvested into the development of new financial solutions.
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The company recorded revenues of €170m and profits of €6.3m in 2022.
“In this uncertain environment, we have chosen to shift our focus from rapid growth to optimising internal processes and maintaining appropriate risk levels to ensure sustainable profitability,” said Boris Batine, co-founder of ID Finance, in a blog post on Mintos’ website.
“This approach guarantees a safe harbour for our valued investors in such an uncertain world. Meanwhile, we continue to develop new products, enhance our client’s experience, and lay the groundwork for our next stage of growth.”
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ID Finance is currently providing opportunities for retail investors to participate in the company’s growth.
The company’s €40m Eurobond programme is available for trading on the Frankfurt Stock Exchange, enabling investors to invest starting from €1 000.
Investors can also participate in a €30m equity funding round that recently closed with UK asset manager, Kingsway Capital.
“By participating, investors will become part of ID Finance’s growth journey, with a focus on the expansion and rollout of the company’s flagship financial wellness app, Plazo, in Southern Europe and Latin America,” the company said.
Their previous two crowdfunding campaigns on Crowdcube raised nearly €8.9m in equity.
From 19 to 30 June 2023, Mintos is also offering a three per cent cashback offer for investments in notes for ID Finance Spain.
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