ID Finance, the Barcelona company behind the consumer finance app Plazo, raised €545 million in debt and equity to grow Plazo and its new BNPL product, Turrón. ID Finance hasn’t said how the total splits between debt and equity, but part of it is asset-based financing from i80 Group, which lent the company $150 million in 2024. Turrón launched in July and pairs an e-money account and debit card with interest-free installments at partner merchants online and in stores. ID Finance plans to market it to existing Plazo users rather than sign up shoppers at merchant checkouts. The company said Plazo became profitable last year, when its revenue tripled and its users passed 400,000, while group revenue hit €243 million.
