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ID Finance raises $8.5m via exchange-traded bonds to support growth

Fintech company completes first tranche of $170m bond issuance programme

ID Finance, the emerging markets fintech company, today announced successful completion of its first issuance of exchange-traded bonds. The company raised $8.5m from the bond registered in Russia and listed on the Moscow Exchange. It was the first tranche of a $170m bond issuance programme that the company plans to support global expansion.

The bond, which was oversubscribed, has a maturity period of three years and a quarterly coupon payment frequency. The bond is listed on the Moscow Exchange, a leading exchange for trading a range of assets including bonds, equities, derivatives and money market instruments.

In line with the Company’s financing strategy, this new issue increases diversity of funding and will support ID Finance’s continued growth and diversification across products and geographies.

Boris Batin, CEO, ID Finance said: “Our debut bond issue marks an important stage in ID Finance’s development and is in line with our plan to further diversify our sources of funding.  The strong investor demand for our debut issue reflects confidence in our strategy and is a significant endorsement for the Company, which is rapidly emerging as one of the fastest growing fintechs within the emerging markets.”

Investment banking firm Renaissance Capital acted as the Lead Manager for the bond placement.

Prior to establishing ID Finance, co-founders, Boris Batin and Alexander Dunaev held senior positions at investment banking firms Renaissance Capital and Deutsche Bank. The founders are leveraging their experience of debt capital markets to enhance the diversity and maturity of ID Finance’s financing profile.

Barcelona headquartered ID Finance is a rapidly growing data science, credit scoring and digital finance provider. Established in 2012, it has operations in Spain, Kazakhstan, Georgia, Poland, Russia, Brazil and Mexico. It saw 92% revenue growth in the first nine months of 2017 and is now issuing over 60,000 loans each month with monthly revenue of $15m.

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