French crypto-friendly fintech startup Lydia has raised $100 million in a Collection C funding spherical, per a report in TechCrunch.
The most recent capital increase reportedly helped Lydia attain unicorn standing with a valuation of over $1 billion.
The $100-million fundraise comes practically a yr after its Collection B funding spherical of $86 million in December 2020.
The spherical was led by traders Tencent and Accel and noticed participation from Dragoneer and Echo Road. The fintech startup goals to make use of the contemporary capital to broaden its footprint in Europe. The agency hopes to have onboarded 10 million Europeans by 2025.
Lydia didn’t instantly reply to Cointelegraph’s request for remark.
The app began as a peer-to-peer cellular funds app and later expanded to incorporate cashback and private loans. The startup just lately launched its inventory and crypto buying and selling companies in affiliation with Australian crypto trade Bitpanda. The fintech app is just like Money App or Venmo by way of performance and presently boasts 5.5 million customers.
PayPal to supply crypto funds for retailers, restricted buying and selling on Venmo.
The recognition of crypto funds lately has made fintech and cellular buying and selling apps the largest winners. A number of cellular cost giants and fintech buying and selling apps, such asPayPal, Robinhoodand Venmo, have opened the gates for crypto funds for thousands and thousands of customers and retailers alike.
Mainstream cellular cost service suppliers have already joined the crypto league, and now even native cost processors wish to financial institution on crypto’s reputation. Indian cellular cost processor Paytm had just lately expressed curiosity in crypto funds following readability on rules from the federal government.
