The Series C financing round was driven by existing financial backers Tencent and Accel.
French crypto-friendly fintech startup Lydia has brought $100 million up in a Series C funding round, per a report in TechCrunch.
The most recent capital raise purportedly assisted Lydia with accomplishing unicorn status with a valuation of more than $1 billion.
The $100-million gather pledges comes almost a year after its Series B financing round of $86 million in December 2020.
The round was driven by financial backers Tencent and Accel and saw support from Dragoneer and Echo Street. The fintech startup expects to utilize the new money to grow its impression in Europe. The firm desires to have onboarded 10 million Europeans by 2025.
The application began as a distributed versatile installments application and later extended to incorporate cashback and individual advances. The startup as of late dispatched its stock and crypto exchanging administrations relationship with Australian crypto trade Bitpanda. The fintech application is like Cash App or Venmo as far as usefulness and presently flaunts 5.5 million clients.
The ubiquity of crypto installments as of late has made fintech and versatile exchanging applications the greatest champs. A few portable installment monsters and fintech exchanging applications, like PayPal, Robinhood and Venmo, have paved the way for crypto installments for a huge number of clients and shippers the same.
Standard versatile installment specialist co-ops have as of now joined the crypto association, and presently even neighborhood installment processors are hoping to bet on crypto’s prominence. Indian portable installment processor Paytm had as of late communicated interest in crypto installments following clearness on guidelines from the public authority.