French fintech startup Lydia raises US$100 million in Series C financing

Lydia, a French cryptocurrency-friendly fintech startup, raised $100 million in Series C financing TechCrunch.

According to reports, the latest financing helped Lydia obtain unicorn status with a valuation of more than $1 billion.

After the B round of financing of US$86 million in December 2020, US$100 million has been raised in the past year.

This round of financing was led by investors Tencent and Accel, with Dragoneer and Echo Street participating. This fintech startup aims to use new funds to expand its footprint in Europe. The company hopes to have 10 million Europeans hired by 2025.

Lydia did not immediately respond to Cointelegraph’s request for comment.

The application was originally a peer-to-peer mobile payment application, and later expanded to include cash back and personal loans. The startup recently launched a stock and cryptocurrency trading service in cooperation with the Australian cryptocurrency exchange Bitpanda.Fintech apps are similar to Cash application or Venmo In terms of functionality, it currently has 5.5 million users.

related: PayPal provides encrypted payments for merchants and conducts limited transactions on Venmo.

The popularity of encrypted payments in recent years has made fintech and mobile transaction applications the biggest winners.Many mobile payment giants and financial technology transaction applications, such as Paypal, Robin Hood And Venmo, has opened the door to encrypted payment for millions of users and merchants.

Mainstream mobile payment service providers have joined the encryption alliance, and now even local payment processors hope to rely on the popularity of encryption.Indian mobile payment processor Paytm recently Express Interest in encrypted payments after the government clearly stipulates.