Author: Annie Musgrove

fintech fintech europe investment

French fintech company Lydia lands additional $86 million from Accel, closing Series B at $131 million

French financial services platform Lydia has announced a whopping extension of its Series B round, raising an additional $86 million led by Accel. The round now rests at $131 million, which it claims is the largest round ever raised by a French fintech startup.

All other major existing shareholders participated, too. Amit Jhawar, the former General Manager of Venmo and Accel venture partner, will join the board.

Starting out as a ‘pay a friend’ app, much like Venmo, the B2C company aims to be an all-in-one, in-hand platform for any financial needs of ‘the mobile generation’. Founded in 2013, Lydia reports adding more business this year than any previous as the pandemic pushes more and more people to digital services. These users are also dabbling more into the company’s newer services, such as its flexible debit card, money pools and direct deposit capabilities.

Having recently launched in Portugal, the company will enter other European markets next year.

Other investors include Tencent, XAnge, New Alpha, Groupe Duval and Founders Future.

Source: techeu

Recommended posts

Money20/20 Asia 2024

The Inaugural Money20/20 Asia in Bangkok Concludes Three Days of Incredible Fintech Conversations, Networking, and Industry Deal Making 

Bangkok, Thailand, April 20-2024- Money20/20, the world’s leading fintech show and the place where money does business, concluded three industry-changing days of fintech conversations,
Open Banking Expo Awards 2024

Open Banking Expo Awards return to celebrate excellence in Open Banking, Open Finance, and payments

London, UK, 9 May 2024 – Open Banking Expo, the premier global community of Open Banking and Open Finance executives driving digital transformation in
New podcast: An Interview with Tom van Wees and Roderick de Koning, CCO and CEO of Ginger Payments