Lydia, the French leader in mobile payment solutions, raises €13 million, bringing the total amount raised by the startup to over €23 million.
Launched in 2013, the Lydia app is now a must-have among 18-35 year olds. The company surpassed 1 million users at the end of 2017 and 2,000 new Lydia accounts are opened every day. Internationally recognized for its innovation and excellent user experience, and driven by the rise of mobile as a means of payment, Lydia aims to become a lasting part of Europeans’ daily lives. Lydia is one of the driving forces behind the cashless revolution, which is already affecting most of the world, from China to Sweden.
CNP Assurances is leading this third round of financing of €13 million, in which the company’s historical investors, including XAnge, New Alpha AM, Oddo BHF and Groupe Duval, are also participating. The objective of this fundraising is to enable the fintech to develop new services and continue its exponential growth in France, the UK, Ireland, Portugal and Spain as well as in the rest of the European Union.
“More than ever, Lydia is one of the major players of the cashless revolution in Europe. We would like to thank our historical shareholders for their renewed confidence and we are delighted to welcome CNP Assurances. These new resources will allow us to go even faster and further to offer 500 million Europeans the most relevant interface for their money,” said Cyril Chiche, President and Co-founder of Lydia.
“With innovative customer acquisition strategies and a remarkable quality of service, Lydia has been able to attract young people and create a real community of users for its application. We are pleased to support its expansion in France and Europe and to work together to develop new mobile payment services,” said Hélène Falchier, Head of Private Equity at CNP Assurances and Managing Director of Open CNP.