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IPF Digital gaining momentum in new markets of Mexico and Spain

IPF Digital, the digital lending business of International Personal Finance, has launched its Iberian Digital lending brand, Creditea, in Mexico.  The brand, which is now operating in Mexico and Spain, is designed to appeal to the growing number of consumers looking for digital loans in these two markets, which between them have a total population of 175 million people

With an estimated 44 million smartphone users in Mexico in 2016, rising to over 60 million by 2020[1], IPF is seeking to meet the needs of a growing number of people who are increasingly using technology to access credit. More than half of Mexicans between the ages of 18 and 34 own a smartphone[2] and this is now the most commonly used device to connect to the web.

The launch in Mexico is the second new market entry for IPF Digital this year following its recent entrance into the Spanish online lending market. The Spanish business is growing and has now served more than 10,000 customers.

Commenting on the launch of Creditea in Mexico, IPF Digital General Manager Rami Ryhänen said: “We see a strong opportunity for digital lending with our Creditea brand in Mexico where smartphone, internet and social media penetration is growing at a rapid pace and the online lending market while small is growing quickly.”

Growing the digital business is a key strategic priority for IPF to enable it to reach more customers in its target segment. In order to realise the significant potential of this large market IPF’s digital team, based in Mexico City, will manage growth conservatively as they build solid foundations for future growth.

Gerard Ryan, CEO of IPF, said: “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 maximise the flow of referrals between both models to attract new and retain existing customers.”

IPF Digital provides instalment loans and a revolving credit line facility with manageable credit limits which are repaid monthly over terms of up to three years. It often takes less than 15 minutes from successful application to customers receiving loans in their bank account.

For the three months ended 30 September 2016, IPF Digital had 171,000 customers and credit issued increased 44% year-on-year. It operates across 8 international markets including Mexico, Spain, Poland and Australia.


[1] Statista, ‘Number of smartphone users in Mexico from 2013 to 2020 (in millions)’:

[2] PEW Global, ‘Smartphone Ownership and Internet Usage Continues to Climb in Emerging Economies’: