PayTech venture Alma bags $14m funding as it targets major growth

Alma, a Klarna like payments startup, has announced a $14.1 million funding round.

This included Idinvest, ISAI and Picus Capital. The buy now, pay later venture has also opened a $19.2 million credit line to finance merchant payments.

It will use the cash to quadruple its payment volumes and the number of merchant users by the end of this year. Alma is compatible with most e-commerce platforms, such as Shopify, Magento and Prestashop. Companies can also offer it as a payment option in physical stores.

Over 1,000 merchants are currently using Alma, including Bobbies, Asphalte and The Cool Republic.

Further details here.

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