Dublin-based money messaging app Plynk has raised €25m in Series A investment round to expand its services into other European markets.

The funding round was led by a private investment trust Swiss Privée.

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Founded by Charles Dowd and Clive Foley in 2015, the social payments start-up allows instant and transparent transfer of money among friends.

The payment solution integrates with users’ Facebook accounts to allow them to send money as a message to a single contact or in group chats instantly without any fees.

Plynk also plans to integrate with both Apple and Android Pay to allow users to transfer funds across multiple outlets.

The app, which was soft launched in January 2017, has a customer base of more than 6,000 in Ireland. The company also plans to launch its app in Spain and Portugal

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Plynk CEO Charles Dowd said: “Private investment trust Swiss Privée Ltd believes in our pan-European vision and knows it’ll take significant resources to execute it. They’ve committed to a Series A raise of €25 million. It’s one of the largest ever Series A raises in Irish history, and probably the largest for a software company in Ireland.”