Lydia payment app raises $100 million in Series C

The Lydia payment app has closed a Series C financing round worth $100 million. The startup’s valuation exceeded $1 billion, according to TechCrunch.

Existing investors Tencent, Accel and Founders Future participated in the round, alongside new backers Dragoneer and Echo Street.

The app’s user base stands at 5.5 million users.

Lydia offers a wide range of services, including current and savings accounts, express loans, instant bank transfers, mobile payments and investments.

The funds will be used to expand the team to 800 people over the next three years and to increase its audience in Europe to 10 million active customers by 2025.

In November 2021, Lydia opened access to cryptocurrencies through broker BitPanda.

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