ID Finance and Da Vinci Capital launch fintech fund

By Moriah Costa on Thursday 3 August 2017

Alternative Lending

The $200m debt fund will focus on companies in alternative financing.


The $200m debt fund will focus on companies in alternative financing.

Emerging markets fintech company ID Finance and asset management company Da Vinci Capital are joining forces with former Russian fund manager Yuri Popov to create a fund focused on alternative financing.  

The $200m (£150m) debt finance fund is aimed at companies that focus on consumer and SME lending, as well as peer-to-peer lenders. The fund will cover direct loans to companies, as well as financing loan portfolios. Loan agreements will range from six months to three years and focus on projects in Russia and Europe.

“The vast majority of money going into fintech is chasing a small number of well-known startups. There are many more high quality fintech companies all over Europe, some of which are performing extremely well, that are seeking capital to scale,” said Boris Batine, co-founder and CEO of ID Finance.

Da Vinci Capital is an asset management company founded in 2007 that specialises in investments in medium-sized companies in Russia and other EEMA countries. ID Finance, founded in Russia in 2012 and with headquarters in Barcelona, is an online lending platform with offices all over the world.

The launch is one of the latest Russian investments into fintech. Russian tycoon Oleg Boyko announced in July that he would invest $150m in fintech.

Alexander Dunaev, co-found of ID Finance, says alternative financing presents an opportunity for the company.

“The alternative lending market is worth a potential $2 trillion and we see a huge opportunity to back the billion-dollar companies of tomorrow focused on digital lending,” he said.

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