Lightyear, an investment platform that is commission-free, has secured $25m in a Series A round led by Lightspeed Venture Partners and Virgin Group.
Also taking part in the round were Mosaic Ventures, Metaplanet and Taavet+Sten as well as a number of new and existing angel investors. To date, Lightspeed has raised a total of $35m.
The company recently secured a European licence in Q1, which gave it the right to provide services in all EU and EEA countries, following its launch in the UK in October last year.
Countries that will be part of this first rollout include Ireland, the Baltics and most of Western Europe, including Spain, Italy, Germany, Portugal, France and the Netherlands.
Martin Sokk – CEO and co-founder of Lightyear – said, “Nine months ago, we launched our app in the UK to initial waitlisters. Fast forward to now, and we’ve secured a European licence that enables us to launch across the continent and raised one of the largest Series A rounds in 2022.”
Sokk added that the company is looking to enter markets such as Sweden, Norway, Romania, Hungary and Poland.
Lightyear previously pulled in $8.5m from a seed funding round in September last year.
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