The France-based company has experienced astounding growth in Europe with major increases to turnover and new payment accounts
Lemon Way is a pan-European payment institution dedicated to marketplaces, crowdfunding platforms, e-commerce websites, and other companies looking for payment processing, payment account management and third-party payment in a KYC/AML – regulated framework. It offers a trusted payment solution used by over 1,400 websites un Europe, including 200 crowdfunding platforms.
The brand was created in France in 2007 by Sebastien Burlet and after just one year of life, it won the National Research Competition and filled of the first mobile payment patent in France.
Lemon Way self-financed its growth since its creation in 2007 and then raised €10M from two VC funds, Breega Capital and Speedinvest, in July 2018. The company is approved and regulated by the ACPR and benefits from the “EU financial passport” in 29 countries. It is based in Paris (HQ), London, Madrid, and Milano, and employs 70 people from 14 different nationalities. In 2018, it processed €2Bn (money-in/money-out) growing up to the 43% from 2017. CB Insights named Lemon Way in its 250 FinTech List of the Fastest-Growing FinTech Start-ups and among the 28 most promising FinTech companies in Payments Processing & Networks at a global level.
Since December 2012, the company has opened 7 million payment accounts to end-users and has registered 120 platforms as agents with the ACPR – Banque de France. It has become the number one in FinTech in France today and maintained its strong growth and strengthened its leadership among marketplaces and crowdfunding companies.
So far, more than 1400 European marketplaces, including 200 crowdfunding platforms have been drawn by Lemon Way’s services.A pioneer on this segment, where it holds the first position not only in France but in Spain and Italy, the company plans to leverage this position in 2019 to continue expansion on this promising market.
Additional highlights from the year include a 25 million-euro fundraising round in October 2019, and contracts with several stellar marketplaces, including the Fédération Française de Football, France’s official football organisation and Engie.
This new fundraising will enable Lemon Way to develop its products, through modular proprietary APIs and new payment services in line with the complex requirements of its clients.
It’s main objective from now on, is “to become one of the Europe’s three leaders and develop our key accounts business”, the company says. Lemon Way aims to strengthen its portfolio of ‘key account’ clients and become one of Europe’s three leaders in payment solutions for marketplaces via business development in the United Kingdom and Germany. ‘Our payment platform makes it possible for us to assist all types of web companies, and particularly the major marketplaces and operators of crowdfunding sites, which need a tool capable of handling the complexity of their payment flows that complies with the regulatory requirements in Europe and in the UK,’ explains Damien Guermonprez, Chairman of Lemon Way.
Antoine Orsini, the company’s CEO, strengthened his steering committee in 2018 with several new arrivals, including heads of communications & marketing and sales, adding a head of Innovation at the beginning of 2019. Several dozen positions are currently open within the sales, marketing and IT teams.