The payment specialist for marketplaces will finance its European expansion and recruit new talents.
Lemonway, the pan-European payment institution regulated by the ACPR – Banque de France announced today a €10 million funding round led by Breega capital, with the participation from Speedinvest, a FinTech venture capital fund. This transaction is currently being approved by the French regulator ACPR. On this occasion, the two VCs will join the Lemonway Supervisory Board.
To finance its European ambitions
This fundraising will enable Lemonway to continue its expansion on a European scale, particularly in Germany and the United Kingdom, and to consolidate its strongholds in France, Spain and Italy, where it is already a leader in the new business of collecting money on behalf of digital marketplaces, especially for crowdfunding websites (Lendix, Wiseed, Housers, Zankyou, Workinvoice …). It will also recruit about thirty people to strengthen its team (80 people to date).
Lemonway facilitates complex payments for digital platforms and e-commerce websites. Already 1,400 marketplaces in Europe including 200 crowdfunding websites trust him. Since becoming a payment institution in December 2012, the FinTech has opened 5 million payment accounts (also called e-wallets) to platform customers and has declared 95 platforms as Lemonway payment agents with the ACPR.
"We are very proud to be accompanied by Breega capital and Speedinvest, two funds specializing in FinTech and resolutely European."
said Antoine Orsini, CEO and Co-Founder of Lemonway.
"We were impressed by the complementarity and vision of the founding team of Lemonway."
adds Guzel Gumerova, Partner at Speedinvest.
"We are very pleased to be supporting Lemonway in its expansion. This investment is perfectly in line with our investment strategy, which is still very targeted in digital technologies, especially FinTech."
adds Ben Marrel, Founding Partner of Breega.
FinTech accelerates its hyper growth thanks to large accounts
In 2017, Lemonway processed €1.4 billion inflows and outflows against €900 million in 2016 (+ 55%). The FinTech achieved a turnover of €11 million in 2017, up 69% compared to 2016 (€6.5 million) and generated a positive net result. It has been self-financing its growth for ten years and now wants to become a leader in Europe.
French FinTech accelerates its hyper-growth pace and has the ambition to process €2.6 billion in 2018 thanks to major accounts it has recently signed such as the SoLocal Group (yellow pages), CNP Assurances, CCI Store, the Fédération Française de Football and the Fédération Française de Natation.
"Our new business of collecting money on behalf of marketplaces implies the issuance of millions of e-wallets in real time and in a very strict regulatory framework. This is the vein we are digging throughout Europe."
affirms Damien Guermonprez, Chairman of the Supervisory Board of Lemonway.
Lemonway solutions are offered in partnership with banks and payment processing agents. The FinTech has enriched its banking relationships by working with Banque Postale, Barclays and Crédit Mutuel CIC, in addition to its long-standing partners BNP Paribas and Banco Sabadell.
"Our technology solution and associated services enable banks to benefit from a very powerful real-time payment account management tool."
Sebastien Burlet, Executive Chairman and Co-Founder of Lemonway.
About Lemonway
Lemonway is a pan-European Payment Institution offering a solution dedicated to marketplaces, and alternative finance platforms looking for a payment processing and collection system on behalf of third parties in a secure and regulated framework. Regulated by the ACPR and benefiting from the European passport in 29 countries, Lemonway is based in Paris and Hamburg.
400 marketplaces already trust Lemonway. The FinTech manages 1.3 million wallets for users of its partner platforms and has raised €50m from Breega, SpeedInvest, and Toscafund.
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Ambre SONOR
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