Alma, a Paris, France-based fintech consumer company, raised €12.5m in funding.
Backers included Idinvest and Isai. The round was supported by a debt raising of €17m.
The company intends to use the funds to accelerate its development on the French market and expand its product offering.
Founded by Louis Chatriot and Guillaume Desloges in 2017, Alma provides a solution that allows merchants to offer installment payments to their customers. The merchant is paid in full at the time of the order, while Alma insures the risk of non-payment. E-merchants can quickly install the plugin which is available on the most popular e-commerce software platforms such as PrestaShop, Shopify, Magento among others) and start accepting split payments directly, without worrying about delinquencies. In stores, merchants can use the solution via a computer or tablet to accept payments in installments in seconds.
The company has already served over 1,000 merchants including Bobbies, Asphalt, Cowboy, Weebot The Cool Republic and The Socialite Family.