French mobile payments app Lydia raises EUR13 million

Source: Lydia

Lydia, the French mobile payments leader, has raised 13 million euros, taking the total amount raised by the startup to over 23 million euros.

Since its launch in 2013, Lydia has become an essential app for 18-35 year olds. The company crossed the milestone of one million users at the end of 2017, and 2,000 Lydia accounts are now created daily. Internationally acclaimed for its innovation and excellent user experience and buoyed by the increasing trend towards mobile payments, Lydia’s objective is to become an undisputed part of Europeans’ daily lives.

The startup is one of the pioneers of the cashless revolution which is sweeping across most of the planet - from China to Sweden. CNP Assurances led this funding round of 13 million euros. They join the company’s existing investors - including XAnge, New Alpha AM, Oddo BHF and Groupe Duval - who have each made follow-on investments. This round will enable the fintech startup to develop new services, and to accelerate its exponential growth in France, the UK, Ireland, Portugal and Spain, as well as in the rest of the European Union.

“Now, more than ever before, Lydia is one of the major players in the cashless revolution gaining pace across Europe. We’d like to thank our existing investors for their ongoing trust, and we are thrilled to welcome CNP Assurances onboard. These enriched means will allow us to go even faster and further towards providing the 500 million citizens of Europe with the best-adapted interface for their money”, commented Cyril Chiche, President and Co-founder of Lydia.

“With innovative customer acquisition strategies and an unparalleled level of service, Lydia has been able to attract millennials, and to create a loyal community of Lydia app users. We are delighted to accompany Lydia on its expansion in France and across Europe, as well as to plan new mobile payment services together” , added Hélène Falchier, head of Private Equity at CNP Assurances, and director of Open CNP.

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