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Lydia Launches Sumeria, Expanding Its Mobile Banking Services in Europe

Lydia, a French-based mobile financial services app, has recently launched a new mobile banking app named Sumeria. This move marks a significant expansion of Lydia’s offerings, aimed at providing a more comprehensive banking solution to its users.

Background of Lydia

Lydia was co-founded by Antoine Porte and Cyril Chiche in 2013 and is headquartered in France. The company started with a focus on simplifying payments through a mobile app, quickly becoming a popular financial tool among millennials in France. With over 4 million users, Lydia has become a leading example of a consumer-to-consumer (C2C) payment solution in Europe​.

The company has been particularly successful in attracting significant investments to fuel its growth and expansion. For instance, Lydia has raised substantial funding over the years, including a Series B extension in December 2020 with $86 million led by Accel. This funding has been instrumental in supporting Lydia’s ongoing development and expansion into new markets across Europe​.

By leveraging its strong foundation and significant market share in France, Lydia aims to replicate its success across Europe, establishing itself as a comprehensive financial hub, or “super-app,” for its users. This strategy reflects a broader trend where companies integrate multiple financial services into a single platform to enhance user engagement and provide more value​.

In summary, Lydia’s introduction of Sumeria as a separate banking app underscores its ambition to evolve beyond a payment app into a more integrated financial service provider, catering to the broader banking needs of its users in France and beyond.

Lydia Debuts Sumeria to Enhance Digital Banking Options for European Customers. The image shows the Lydia app open in a person's phone.
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Features of Sumeria

Sumeria, as a new offering from Lydia, integrates a range of banking services designed to cater to modern financial needs. It functions as a comprehensive mobile banking app offering versatile account options such as personal, joint, and investment accounts, each designed to manage different financial aspects efficiently. Notable features include:

  • Variety of Account Types: Users can open and manage multiple types of accounts, including savings accounts that emphasize budget management through features like “Envelopes” for categorizing funds for specific purposes.
  • Advanced Payment Options: Sumeria supports diverse payment methods, including traditional and virtual debit cards, extensive mobile payment options through platforms like Apple Pay, Google Pay, and contactless transactions. This variety ensures convenience and security, catering to a broad spectrum of user preferences​​.
  • Financial Tools and Benefits: The app offers tools for saving and budgeting, featuring low or no bank fees, commission-free saving accounts, and perks like cashback from major retailers. It also provides high security for transactions and investment options starting from low amounts, making it accessible to various users​.
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Target Audience

Sumeria targets a broad demographic, focusing on users who seek a mobile-first banking experience that integrates financial management tools seamlessly into their lifestyle. This includes tech-savvy millennials and digital natives who prefer managing their finances digitally without the need for traditional banking infrastructure. The app’s features like instant money transfer, budgeting tools, and the integration of modern payment technologies resonate well with users who value convenience, speed, and security in their banking transactions​.

These features position Sumeria not just as a banking app but as a financial management tool that appeals to a demographic accustomed to comprehensive, on-the-go financial solutions in one platform.

Market Impact

Lydia’s launch of the mobile banking app Sumeria is set to significantly impact the mobile banking sector in Europe. By integrating various financial services into a single app, Lydia positions itself competitively against traditional and digital banks, appealing particularly to users seeking streamlined, tech-savvy banking solutions. This strategy not only enhances user convenience but also places Lydia at the forefront of the mobile-first financial services trend, increasing its market presence and potentially capturing a larger share of the digital banking market.

Future Plans

Lydia has shown ambitious growth plans, particularly in expanding its services across Europe. The company has recently enhanced its capabilities in open banking through a partnership with Tink, which now allows users in Portugal to integrate various banking services into one comprehensive app. This expansion is part of a broader strategy to launch in multiple European markets, leveraging its robust financial platform to offer a wide array of banking and payment services.

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Furthermore, Lydia’s vision extends towards becoming a financial super app, a concept that has seen massive success in Asia through platforms like WeChat. With substantial investments, including a significant round from Tencent, Lydia aims to replicate this model in Europe, offering everything from bank accounts to insurance and investment products all within one app.

These initiatives reflect Lydia’s commitment to not only expanding its geographical footprint but also to deepening the integration of financial services, providing a seamless user experience that could redefine personal finance management in Europe.


Lydia’s journey from a peer-to-peer payment app to a comprehensive mobile banking solution illustrates its dynamic adaptation to the evolving digital finance landscape. The app, renowned for its simplicity and effectiveness, allows users to send money, manage payments, and now, with Sumeria, delve into more detailed financial management through a mobile-first banking approach.

Recent updates to Lydia include the introduction of individual IBANs for money pots, enhancing its utility for group expenses and events, facilitating easier, commission-free contributions through bank transfers—a feature aligned with Lydia’s user-centric approach to financial services.

Customer feedback on platforms like Trustpilot highlights Lydia’s efficient service and user-friendly interface, with particular praise for its quick transaction capabilities and effective fraud reduction measures, reflecting a strong user satisfaction level.

As Lydia continues to develop and expand—evidenced by its recent ventures into new European markets like Portugal in partnership with Tink—it solidifies its position not just as a payment app but as a holistic financial service provider. This strategic expansion not only broadens Lydia’s user base but also enhances its offerings, adapting to the diverse needs of modern users who seek comprehensive, seamless financial solutions in one platform.

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Moving forward, Lydia’s focus will likely remain on enhancing its super app capabilities, integrating more services like insurance and investments, and possibly exploring new markets. This approach not only promises substantial growth for Lydia but also sets a benchmark in the mobile banking sector for innovation and user engagement.

For anyone looking to streamline their financial operations via a mobile platform, Lydia offers a compelling, feature-rich option that caters to a broad spectrum of banking needs, from everyday transactions to complex financial management​.

For more details, you can visit Sumeria website here.

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