Boris Batin and Alexander Dunaev’s Spanish fintech holding ID Finance has raised €30 million from British Kingsway Capital. The money will be used to develop the off-bank Plazo product in Spain and Mexico. Boris Batin announced this on Facebook.

The fintech holding Batin and Dunaev ID Finance received 30 million euros for the development of the non-banking product Term

The agreement includes an initial capital injection and a buyback of shares from the company’s early investors. The capital contribution is structured as a convertible loan with a maximum value of 235 million euros.

ID Finance created Term in 2021. The app allows you to issue an electronic debit card and issue an overdraft on it.

The developers also added a CRM system for customer support, implemented the technical ability to link cards to ApplePay and GooglePay services.

Author:

karina pardaeva

Source: RB

Previous articleExtra money? With these apps, you can earn income ‘doing nothing’.
Next articleAmericans were big for $100 for GPT-4 containers.
Emma
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

RELATED ARTICLESMORE FROM AUTHOR

LEAVE A REPLY

Please enter your comment!
Please enter your name here