French crypto fintech-friendly Lydia has raised $100 million in a Series C funding round, TechCrunch reports.

A recent fundraiser is said to have helped Lydia reach over $1 billion from unicorn status.

The $100 million in donations will be raised nearly a year after the $86 million Series B funding round in December 2020.

Investors Tencent and Accel led the round, with Dragoneer and Echo Street participating. The Fintech startup is looking to leverage the new capital to expand its presence in Europe. The company hopes to have 10 million Europeans on board by 2025.

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

The app started as a peer-to-peer cash payment app and later expanded to include cashback and personal loans. The startup recently launched its stock and cryptocurrency trading services in partnership with Australian crypto exchange Bitpanda. The Fintech app is similar to Cash or Venmo in terms of functionality and currently has 5.5 million users.

Related: PayPal Offers Cryptocurrency to Merchants, Limited Trading on Venmo.

The popularity of cryptocurrencies in recent years has made fintech and mobile commerce apps some of the biggest winners. Several giants of mobile payments and fintech trading apps such as PayPal, Robinhood, and Venmo have opened the doors of cryptocurrency to millions of users and merchants.

Traditional mobile payment providers have already joined the crypto league, and now even local payment processors want to start with the popularity of cryptocurrency. Indian mobile payment processor Paytm recently showed interest in cryptocurrency after clarification from the authorities about the rules.

Source: CoinTelegraph

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