ID Finance raises $8.5M from exchange-traded bonds

Emerging markets fin-tech ID Finance announced the successful completion of its first issuance of exchange-traded bonds.

The company raised $8.5 million from the bond registered in Russia and listed on the Moscow Exchange. It was the first tranche of a $170 million 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. It is listed on the Moscow Exchange.

The new issue increases the diversity of funding and will support ID Finance’s continued growth and diversification across products and geographies.

Boris Batine

“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,” CEO Boris Batin said.

“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 fin-techs within the emerging markets.”

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

Barcelona-headquartered ID Finance is a data science, credit scoring and digital finance provider. Established in 2012, it has operations in Spain, Kazakhstan, Georgia, Poland, Russia, Brazil and Mexico.