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Barcelona-based ID Finance, a fintech company, announced on Wednesday that it has raised €30M in equity led by UK-based asset manager Kingsway Capital.
After receiving a favourable review from the External Investment Board, the Spanish Council of Ministers officially endorsed the transaction, making it the largest investment inflow into a Spanish fintech in 2023.
The transaction includes primary capital infusion and a buyout of shares from the company’s early investors.
The capital injection is structured as a convertible loan with a maximum valuation of €235M.