The Lydia payment service has attracted investments in the amount of $100 million

The company has successfully completed a Series C funding round

09.12.2021 - 08:30

1 min

What’s new? The Lydia payment service has completed another Series C funding round, the TechCrunch portal reports. The company has raised $100 million in funds and its valuation has risen to $1 billion.

News on the TechCrunch website

Who participated? The startup's major investors include such large companies and funds as Dragoneer, Accel, Echo Street, Founders Future, and Tencent.

“What’s really impressive with this round is that it is primarily financed by existing investors,” said Lydia CEO Cyril Chiche.

How do they plan to use the funding? The funds raised will be used to expand Lydia's staff to 800 employees. Another major goal is to increase the service's audience from its current 5б5 million clients to 10 million over the next four years. The main focus will be on attracting new users from the European region.

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