French Startup Alma Raises €115M to fund Expansion Across Western Europe

French buy-now-pay-later platform Alma raised 115 million euros ($131 million) in equity funding as it seeks to speed up its expansion in Western Europe.

Alma’s latest fundraising round also drew 95 million euros in debt financing, bringing the total to 210 million euros.

The platform attracted new investors such as Chinese tech giant Tencent, which joined previous backers such as Eurazeo and the French state-owned investment bank Bpifrance.

Alma – whose clients include French upmarket department store chains Galeries Lafayette and Printemps – said it would use the funds to grow in new and existing markets.

It plans to expand to the Netherlands, Luxembourg, Portugal, Ireland, and Austria this year.

– Reuters