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French buy now, pay later startup Alma has raised €210 million to scale its business across continental Europe.
The funding round, which comprises €115M in equity and €95M in debt, saw existing investors Seaya Ventures, Cathay Innovation, Eurazeo, and Bpifrance participate, as well as new investors Tencent, GR Capital and Roosh Ventures. It follows a €49 million raise completed last year by the the three-year old vendor.
The fresh capital will be used to extend its services across France, Germany, Italy, Spain and Belgium and move into new markets in the Netherlands, Luxembourg, Portugal, Ireland and Austria.
In 2021, Alma focused on expanding its product suite (launching in-store payment terminal-based installments, longer-term financing options, and B2B pay later), as well as kickstarting expansion efforts. With more than 6,000 merchants of all industries using Alma, the company’s transaction volume has already exceeded 1 billion euros annually.
With its expansion in Europe, Alma is doubling its size to support the growth and recently hired Stéphanie Combe, as head of finance, and Jonathan Trepo-Lantelme, as chief revenue officer, to strengthen the team.
Financial Services
