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French fintech firm Lydia raises $86 million

STOCKHOLM, Dec 17 (Reuters) - French fintech firm Lydia, which allows fast money transfer between users, has raised $86 million in an extension of its second funding round led by venture capital firm Accel.

The deal was structured as an extension of its Series B funding round, taking the total funds raised in the round to $131 million, making it the largest raised by a French fintech company.

Launched in 2013, Lydia has so far raised over $160 million in funding from investors such as Tencent, XAnge, New Alpha, Groupe Duval and Founders Future.

Amit Jhawar, former general manager of PayPal’s mobile app Venmo and Accel venture partner, will join Lydia’s board. (Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, in Stockholm; editing by David Evans)

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