Lydia pushes super-app plans with $86m fundraise

By Daniel Lanyon on Friday 18 December 2020

Digital Banking

The round, a Series B extension, was led by Accel and amounts to the largest ever fintech round for a French start-up.

Lydia pushes super-app plans with $86m fundraise
Image source: Lydia

Paris-bsed banking challenger app Lydia has doubled its total euro volumes in 2020 and raised $86m in a Series B extension fundraise this week.

The new funding round, which was led by Accel brings its total Series B funding to $131m, making it the largest round ever raised by a French fintech. 

All major existing shareholders participated. Amit Jhawar, the former General Manager of Venmo and Accel venture partner, led the investment for Accel and will join the Board of Directors.

Lydia says its now has 4 million users and has seen like-for-like user transactions grow more than 100 per cent over the past year.

The new funding will be used to accelerate Lydia’s product roadmap to expand its geographic footprint, the company says despite pulling out of the UK earlier in the year.

“The uncertainties of 2020 have provoked the younger, mobile generation to look for even more control and real-time visibility of their financial situation,” said Cyril Chiche, co-founder and CEO at Lydia. 


 

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