Alma, a French startup that offers buy now, pay later (BNPL) payment solutions for e-commerce and physical retail stores has recently announced that it has raised $130 million in a Series C funding round led by the investment Tencent.
The latest funding round, which brings Alma’s total funding to over $190 million, also saw participation from many other investors, including Cathay Innovation, Idinvest, and Seaya Ventures, among others. french 115m series 95m tencent 185mdillettechcrunch.
Alma’s BNPL payment solutions allow customers to spread the cost of their purchases over several months, with zero interest charges. The startup’s platform can be integrated into the online checkout process of e-commerce websites, as well as in-store payment terminals.
Founded in 2017, Alma has rapidly expanded its operations in France, where it now partners with over 6,000 retailers, including popular brands such as Decathlon, Rakuten, and Fnac Darty. The startup has also expanded into Spain and Italy, where it is currently partnering with hundreds of retailers.
The startup’s success can be attributed to the growing popularity of BNPL payment solutions among consumers, particularly among younger generations. BNPL services have gained traction in recent years as a more flexible and accessible alternative to traditional credit cards and loans.
Alma’s CEO, Louis Chatriot, said in a statement that the latest funding round would enable the startup to expand its operations further across Europe and to launch new products and services to meet the evolving needs of retailers and consumers.
“We’re thrilled to have the support of such a strong group of investors as we continue to build the future of payments,” said Chatriot. “With this new funding, we’re looking forward to accelerating our growth, expanding our team, and launching new features that will help retailers and customers alike.”
The BNPL market is expected to continue to grow rapidly over the coming years, with some estimates suggesting that it could reach a market size of $1 trillion by 2026. As such, Alma is well-positioned to capitalize on this trend and establish itself as a leading player in the BNPL space.
In conclusion, Alma’s latest funding round represents a significant milestone for the startup, which has quickly established itself as a key player in the rapidly growing BNPL market. With the new funding, Alma is poised to further expand its operations and product offerings, while continuing to drive innovation and meet the needs of both retailers and consumers alike.