French fintech startup Lydia raises $100 million in Series C investment spherical
French Crypto-friendly fintech startup Lydia has raised $100 million in a Series C investment spherical, in line with a record in TechCrunch.
The newest capital elevate reportedly helped Lydia reach unicorn standing with a valuation of over $1 billion.
The $100-million fundraise comes just about a yr after its Series B investment spherical of $86 million in December 2020.
The spherical was once led via traders Tencent and Accel and noticed participation from Dragoneer and Echo Street. The fintech startup objectives to make use of the contemporary capital to enlarge its footprint in Europe. The company hopes to have onboarded 10 million Europeans via 2025.
Lydia didn’t in an instant reply to Cointelegraph’s request for remark.
The app began as a peer-to-peer cell bills app and later expanded to incorporate cashback and private loans. The startup not too long ago introduced its inventory and Crypto buying and selling services and products in affiliation with Australian Crypto alternate Bitpanda. The fintech app is very similar to Cash App or Venmo with regards to capability and recently boasts 5.5 million customers.
Related: PayPal to supply Crypto bills for traders, restricted buying and selling on Venmo.
The approval for Crypto bills in recent times has made fintech and cell buying and selling apps the most important winners. Several cell fee giants and fintech buying and selling apps, corresponding to PayPal, Robinhood and Venmo, have opened the gates for Crypto bills for hundreds of thousands of customers and traders alike.
Mainstream cell fee carrier suppliers have already joined the Crypto league, and now even native fee processors wish to financial institution on Crypto’s reputation. Indian cell fee processor Paytm had not too long ago expressed pastime in Crypto bills following readability on laws from the federal government.