Ibancar

Ibancar is a Málaga-based fintech that provides online consumer loans secured by the borrower's car, including to customers with limited access to conventional bank credit. Borrowers can take loans of up to €8,000 over 12 to 60 months, keep ownership and use of their vehicle, and apply entirely online, with approval and payout typically within 24 hours. The company was founded in 2011 in Fuengirola, Málaga, and began lending in 2014. It has since expanded into Latin America through Ibancar LATAM in Mexico. In November 2020 it raised €1.65 million in equity led by Knuru Capital, alongside a syndicate of internet entrepreneurs and senior finance executives. In December 2021 it secured a credit facility of up to €10 million, also led by Knuru Capital, to fund its loan book.

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