Paris, 15 February 2018

As part of a funding round of €13 million, CNP Assurances has acquired a stake in fintech company Lydia, France’s leading mobile payment solutions provider, through its Open CNP corporate venture programme.

CNP Assurances, which is pursuing its programme of investments and partnerships with innovative start-ups under Open CNP, today announced its acquisition of a stake in Lydia’s capital. Lydia, launched in 2013 by Cyril Chiche and Antoine Porte, has developed an instant mobile payment app to simplify day-to-day transactions, both peer-to-peer and with businesses. The company is based in Paris and has 40 employees.

CNP Assurances has invested in Lydia to help it pursue its strategy of conquering new users in France and Europe and developing new services. The app, which is very popular among young people, already has more than a million users, with more than 2,000 new accounts being opened daily.

Lydia represents the sixth investment by Open CNP, which is dedicating €100 million over five years to supporting innovative start-ups as part of the acceleration of the digital transformation of CNP Assurances.

 “We are delighted to welcome Open CNP as a long-term investor. This will enable Lydia to pursue its development in France and Europe, continue to expand its community and grow its services offering”, said Cyril Chiche, Lydia’s Chairman and co-founder.

“With innovative customer acquisition strategies and stand-out service quality, Lydia has attracted young people and created a real community of users of its app. We are delighted to be supporting its expansion in France and Europe and looking together at new services around mobile payment,” saidHélène Falchier, Head of Private Equity at CNP Assurances and CEO of Open CNP.