The article discusses the European fintech company, Lydia, which has rebranded itself as Sumeria. The new name is part of a major overhaul that includes a focus on the European market, exclusive to France, Germany, and Spain. This move is aimed at establishing Sumeria as a more serious contender in the fintech space, with plans to invest €100 million and hire 400 people over the next three years.
Key points from the article include:
- Rebranding: Lydia has changed its name to Sumeria, aiming to be taken more seriously by consumers.
- European focus: The new company will exclusively target the European market, offering bank accounts tailored to each country’s needs.
- Investment and hiring plans: Sumeria aims to invest €100 million and hire 400 people over the next three years.
- Ambitious goals: The company hopes to reach 5 million customers by 2027.
The article also highlights Lydia/Sumeria’s unique approach, which includes:
- Exclusive European market focus: Unlike other fintech companies like Revolut, Sumeria will not aim for international expansion.
- Interest on all accounts: Sumeria plans to offer interest on all customer accounts, making banking more accessible and user-friendly.
Overall, the article provides insights into Sumeria’s ambitious plans to establish itself as a major player in the European fintech market.
