French BNPL fintech Alma raises €210m Series C to support European expansion

French buy now, pay later (BNPL) platform Alma has closed a €210 million Series C round made up of a combination of equity (€115 million) and debt financing (€95 million).

Alma co-founder and CEO Louis Chatriot

The round saw participation from existing investors Cathay Innovation, Eurazeo, Bpifrance via its Large Venture fund, Seaya Ventures and Picus Capital. New investors included Tencent, GR Capital and Roosh Ventures.

To date, the fintech has raised €180 million in equity and more than €100 million in debt financing.

The BNPL firm claims more than 6,000 merchants as customers and a transaction volume of more than €1 billion annually.

“We strive to be an efficient and sane alternative to traditional consumer credit,” says Alma co-founder and CEO Louis Chatriot.

The cash injection will support Alma’s European expansion plans as it looks to provide BNPL solutions to more than 270 million European consumers throughout France, Germany, Italy, Spain and Belgium.

This year, the company plans to launch in the Netherlands, Luxembourg, Portugal, Ireland and Austria.