Cathay et al. in €49m series-B for Alma

In addition to the equity raised, Alma has recently secured a credit line of €21m to finance merchant payments, provided by institutional investors and high-net-worth individuals.

The company intends to use the fresh capital to accelerate the development of its service offering for retailers, consolidate its presence in the French market and further expand across Europe. In addition, Alma plans to triple its workforce and increase the number of merchants using its services.

Previous funding
Alma raised €3.3m in a funding round provided by Isai Gestion, BPI France, Idinvest Partners, Kima Ventures, La Financiere Saint James and several angel investors in July 2019.

More recently, Idinvest and Isai Gestion led a €12.5m series-A in Alma in March 2020.

Company
Established in 2017 and based in Neuilly-sur-Seine, Alma provides instalment payment solutions to online merchants and customers.

The company has recently launched Pay Later, which allows customers to buy goods immediately and pay for them two weeks to a month after the purchase. The service is already used by many French retailers, including fashion brands such as La Fée Maraboutée and Le Petit Lunetier.

In addition, the company has partnerships with various marketplaces, such as Ankorstore.

Alma expects to process an annual volume of payments exceeding €1bn within two years.

People
Alma – Louis Chatriot (co-founder, CEO).
BPI France – Olivia de la Rivière (growth equity investor).
Cathay Innovation – Jacky Abitbol (partner).
Idinvest – Nicolas Debock (managing director).
Seaya Ventures – Aristotelis Xenofontos (director).

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• Topics
• Expansion
• France
• Financials
• Technology
• Venture
• Cathay Capital
• BPI France
• France
• IDInvest Partners (AGF Private Equity)