ID Finance Has Secured €545 Million For Plazo App
The fintech company plans to use the capital to fuel growth and expand its merchant partner network.
Updated on Oct. 13, 2026 in Financial Services
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ID Finance has raised €545 million in a new funding round to support the expansion of its consumer finance application, Plazo. This latest capital injection follows a $150 million debt financing round completed earlier in 2024.
Why it matters
The funding aims to accelerate the growth of the Plazo app and broaden the company's network of partner merchants. The firm is capitalizing on momentum after its service reached profitability in 2025.
ID Finance reported €243 million in group revenue for 2025, marking a 300% year-over-year growth rate for its Plazo service. The app currently serves over 400,000 users across its markets in Spain and Mexico.
The players
ID Finance
This international fintech firm specializes in digital lending and consumer finance solutions across Spain and Mexico.
Plazo
This consumer finance application provides mobile banking services and payment solutions to users.
The details
Alongside the funding announcement, ID Finance introduced a payment solution named Turrón by Plazo, which integrates an e-money account, a debit card, and a Buy Now, Pay Later feature. The company expects the platform to maintain its current growth trajectory throughout 2026.
Timeline
In early 2024, ID Finance secured $150 million in debt financing.
During 2025, the company reached profitability and achieved 300% revenue growth.
On October 13, 2026, the company announced its €545 million funding round.
For 2026, the firm projects an additional 300% growth for the Plazo app.
Market Landscape
The introduction of the Turrón payment solution reflects a broader trend of fintech firms consolidating e-money, credit, and debit services into singular ecosystems. This strategy positions the company to capture greater market share by increasing user utility within its existing platform.
Users of the Plazo app may see an expanded selection of participating merchants as the firm grows its partner network. The rollout of the Turrón payment solution provides existing customers with access to new integrated features, including an e-money account and Buy Now, Pay Later options.
The takeaway
The successful funding round underscores the continued growth of digital finance platforms that offer integrated payment and credit solutions. Users can benefit from this consolidation by accessing a broader suite of financial tools within a single interface.
Further reading
Learn more about the evolving landscape of global digital banking in our Financial Services section.
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