France-based startup Alma raises USD 59.4 mln for its instalment payment option

Monday 25 January 2021 13:35 CET | News

France-based startup Alma has announced a USD 59.4 million Series B funding round, as it's building a new payment option for expensive good.

According to TechCrunch, the offering allows consumers to pay over three or four instalments, similar with the like of Klarna. Cathay Innovation, Idinvest, Bpifrance’s Large Venture fund, Seaya Ventures, and Picus Capital are participating in the funding round. Besides, Alma is raising a credit line of USD 25.5 million to finance merchant payments.

Furthermore, one of the benefits that make Alma attractive to merchants is that is handling 100% of the risk involved with a payment over multiple instalments. Therefore, when a customer makes a purchase in four instalments, they’ll get charged over several months, while the merchant gets paid on day one.

Additionally, Alma plans to offer longer plans, such as the ability to buy now and pay over 6, 10 or 12 instalments, TechCrunch stated.

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Keywords: Alma, fundraising, funding round, investment, France, Series B funding round, instalment payments, buy now pay later, BNPL, merchants
Categories: Payments & Commerce
Countries: France
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