French peer-to-peer payments app Lydia picks up $7.8m

French peer-to-peer payments service Lydia has raised $7.8m in a new round of venture funding.

The capital comes from NewAlpha Asset Management and Oddo & Cie and takes the total raised by the Paris-based company to more than $13m.

The company’s app is primarily a peer-to-peer payments service, but it also enables users to make online and in-store payments with it recently launching a custom MasterCard.

Lydia claims more than 500,000 users in France and aims to use the capital to expand around Europe.

The UK, Germany and Spain are targeted for the first half of 2017 with the company aiming to reach 3m users in two years.

Lydia will also continue to add new services to app.

Copyright © 2016 FINTECH GLOBAL

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