Lydia raises over $100 million and becomes a French unicorn
After launching its 100% mobile trading solution two weeks ago, Lydia announced a new financing mega-round of over $100 million.
The round is led by Lydia’s historical investors (Accel, Founders Future and Tencent), who are taking the opportunity to massively renew their confidence in the company’s team and project. With this round, two American investment funds, Dragoneer and Echo Street, are joining the adventure and making their first investment in Lydia.
From peer-to-peer money exchanges that made it famous to the 2021 super-app which offers an intuitive, complete and innovative alternative to daily banking services, Lydia has experienced a spectacular evolution in the past 24 months. Its current accounts, joint accounts, credit, savings and now investment services have already attracted 2 million French people and are experiencing double digit monthly growth.
With this new round of funding, the ambition is clear: to be the main account for 10 million Europeans by 2025. To achieve this, Lydia intends to hire nearly 800 people over the next three years (including 160 in 2022), expand its credit and investment offerings and deploy significant resources to become a key player in at least three major European Union countries.
Cyril Chiche, CEO and co-founder of Lydia, said: “These new resources will enable us to go further and faster in our mission to change the way banking is done, by making all financial services simpler, more accessible and also more instantaneous. The success of Lydia year after year and its adoption by more than a third of all French people aged between 18 and 35 confirms the alignment of our vision with current expectations in terms of banking services. This mega fundraising is also a new symbol of the remarkable dynamism of the French tech ecosystem and a strong sign of its capacity to create a significant number of international champions in the years to come.
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