ID Finance, an innovative online lender and one of HES’s key customers, has launched its service in Brazil.
The push into Latin America is the part of ID Finance’s ongoing strategy of expansion. ID Finance already operates in Russia, Kazakhstan, Georgia, Spain, and Poland. The company is also looking to start operation in Mexico, Colombia, and Peru.
“There are many countries in Latin America with the quickly-evolving online lending environment,” said Boris Batin, the co-founder of ID Finance.
And we see a lot of potential demand for our products there. By launching an online lending service in Brazil we are aspiring to create a business hub and start operating across several Latin-American countries. Hence, the region has a large population and its Internet penetration rate is surging. What is more, it is geographically close to the USA, which gives us the opportunity to access the US market.”
“In today’s world of technology and connectivity, running a business in only one country is an increasingly outdated and insecure practice,” said Alexander Dunaev, the co-founder of ID Finance.
“It makes no sense to hope that import substitution will provide economic prosperity. But it does make sense to be engaged in export activities. We have always thought of ID Finance as an international business. Above all, we have worked hard to achieve this objective with the right infrastructure, technology platform, and a coherent expansion strategy. A key advantage of ID Finance is its own model of data analysis and assessment of credit. We also owe much of our success to HES who has been our technology partner from the start.”
ID Finance would fill up the gaps in its current offerings besides launching new products and services.