Lydia
payments . mobile/digital wallet . p2p payments
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About
With Lydia's 100% mobile and digital current account:- Spend money abroad without any fee on payments nor withdrawals- Pay contactless anywhere using any mobile device (no amount limit, fully secured)- Manage all of your bank accounts from one single app- Send money instantly to a relative using their phone number- Pay online safely using unlimited Internet Cards- Set-up Shared Accounts to share expenses fairly (couple, flatshare, trip with friends)- Get notifications instantly to keep up with your expenses....and so much more!
Lydia's apps enable customers to pay anyone - a friend (for rent, drinks, movies), professionals (restaurants, taxi drives, doctors) and online purchases. The app is available for both iPhone and Android users. The company is offering its product in the U.K., Ireland, Spain and Portugal. Lydia has named as one of the 'Global Fintech 100' by KPMG and as one of the top 10 French Fintech startups by Forbes in 2017.
Focus
PRODUCTS & SERVICES
Lydia is a mobile payment app that provides payments for online purchases, friends, restaurants, etc. It is an all-in-one app that provides various features like monitoring all user bank accounts, make bank transfers, creating online money pots, pay the money back friends by text message and email, pay businesses using contactless or QR codes and set recurring payments. It has launched a new feature that allows the user to add new IBAN recipients, using an old IBAN account, send money, or schedule reoccurring transactions. It also allows users to see an overview of all of their accounts within the app.
REVENUE MODEL
The company earns revenue by offering freemium plans and transaction fees. 1) Lydia premium, a subscription plan which costs $3.69 per month. 2) Merchants pay 0.3% per transaction and monthly fees varying between € 4.9 - € 49.9. 3) Pay with Lydia option on e-commerce websites. merchants pay 1.5% + fixed fee of €0.06 per transaction.
MAIN CLIENTS
Retail Consumers
EXISTING PARTNERSHIPS
Payline (by Monext
Crédit Mutuel Group ARKEA)
Financial Company Interbank Electronic Purse (SFPMEI)
Traction
VALUATION / MARKET CAP:
$52.02 M in 2016
TRANSACTIONS COMMENT:
Lydia processes around 1 million transactions per month, or around €25 million in monthly volume. (March 2018)
ACTIVE USERS:
1 Million in 2018
ACTIVE USERS COMMENT:
The company has more than $1 Mn. registered users and it's more than 2,000 people sign up on every day. (March 2018)
TRACTION COMMENT:
Lydia plans to expand into Germany and Austria.
People
FOUNDERS
Antoine Porte
Cyril Chiche
BOARD MEMBERS AND ADVISORS
Jerome Tordo
Harold Mechelynck
Bertrand Cyril
NUMBER OF EMPLOYEES
51-200
INVESTORS:
KEY EMPLOYEES:
Cyril Chiche (CEO); Antoine Porte (CTO)
Momentum
FUNDED
YES
NUMBER OF FUNDING ROUNDS
4
TOTAL FUNDING
$78.31 M
DATE OF LAST FUNDING
Jan 2020
SEED & PRIOR FUNDING
$800.3 K
SEED CLOSED ON
Sep 2013
FUNDING SERIES
SERIES A · $4.5 M · Nov 2014
SERIES B · $44.61 M · Jan 2020
OTHERS · $28.4 M · Feb 2018
LISTED
NO
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