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02/19/2018

Fintech Lydia raises additional € 13 million to accelerate cashless revolution in Europe

Lydia, French leader in mobile payment solutions, raises 13 million euros bringing to more than 23 million the total amount raised by the startup.

Launched in 2013, the Lydia app is now a must for 18-35 year olds. The company has exceeded one million users by the end of 2017 and 2,000 new Lydia accounts are open every day.

Recognized internationally for its innovation and the excellence of its user experience, and driven by the rise of mobile as a means of payment, Lydia aims to become a permanent part of the daily lives of Europeans. Lydia is one of the driving forces behind the cashless revolution, which already affects most of the world from China to Sweden.

CNP Assurances is leading this third round of 13 million euros, which also involves the startup's long-standing investors, including XAnge, New Alpha AM, Oddo BHF and Groupe Duval. The purpose 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 in the cashless revolution in Europe. We thank our historic shareholders for their renewed confidence and we are delighted to welcome CNP Assurances. This new funding will allow us to go even faster and further to offer the 500 million Europeans the most relevant interface for their money, "says Cyril Chiche, President and Co-founder of Lydia.

"With innovative strategies to acquire new customers and a remarkable quality of service, Lydia has attracted young people and created a real community of users of its application. We are happy to support its expansion in France and Europe and to think together about new mobile payment services, "said Hélène Falchier, Head of Private Equity at CNP Assurances and General Manager of Open CNP.

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