IPF Digital gaining foothold in Mexico and Spain

International Personal Finance’ digital lender IPF Digital has launched its Iberian Digital lending brand Creditea in Mexico and Spain to meet a need for digital loans in the two countries.

Data supplied by IPF Digital stated the number of smartphone users in Mexico is expected to rise from 44 million today to more than 60 million by 2020. More than half of Mexican citizens between the ages of 18 and 34 own a smartphone, which is the most popular way people connect to the web in the country. IPF Digital hopes its success mimics its earlier launch in Spain, which has attracted more than 10,000 customers so far.

IPF CEO Gerald Ryan

IPF CEO Gerald Ryan

IPF CEO Gerald Ryan explained why digital growth is so crucial to his company’s plans.

“Following the launch of IPF Digital in 2015 we have made significant progress in the expansion of our digital business, which complements our successful agent-delivered home credit operations. By developing synergies between our home credit and digital offerings we will maximize the flow of referrals between both models to attract new and retain existing customers.”