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A new double-digit fundraising in French Fintech. The market payment specialist Lemon Way announced Monday that it has completed a € 10 million round led by French venture capital fund Breega, together with the Austrian fund Speedinvest, which will both join the board of directors. monitoring. The transaction is currently being approved by the Prudential Supervisory Authority (ACPR, backed by the Banque de France), to which it is accredited as a payment institution.
Created in 2007, Lemon Way specializes in the management of "complex" payments of digital platforms and e-commerce sites: it counts among its clients 1,400 marketplaces in Europe. She opened 5 million payment accounts (e-wallets) with the customers of the platforms, which led her to claim the title of "first French Fintech in number of customers" .
Lemon Way had been self-financing for ten years but decided to open up its capital to accelerate its expansion into Europe and into its new business of collecting for third parties. Located in Montreuil (Seine-St-Denis), the young company, which employs 80 people, plans to recruit some thirty.
"Our new business of collecting on behalf of third parties calls for the issuance of millions of e -wallets in real time in a very strict regulatory framework. This is the vein we are digging across Europe, "says Damien Guermonprez, Lemon Way's Chairman of the Supervisory Board.
Volumes multiplied by 18!
Lemon Way ensures the collection for 200 crowdfunding sites, including French Lendix and Wiseed, which she accompanies in Europe. The company also signed with major accounts such as the SoLocal Group (Yellow Pages), CNP Assurances, CCI Store, the French Football Federation and the French Swimming Federation, for the collection of membership fees, a slot on which the startup e-Cotiz (which counts BPCE capital) is also positioned.
The rise of this new business explains in part the very strong growth of volumes: Lemon Way which treated 1.4 billion euros of flow last year (+ 55%) aims at 2.6 billion euros this year (+ 85%). In three and a half years, volumes were multiplied by 18, from 5 million euros collected per month to 92 million euros.
[Volumes collectés par mois depuis janvier 2015. Crédits : Lemon Way]
"This investment is perfectly in line with our investment strategy, which is still very targeted in digital startups, especially Fintech, with its strong ambition and great international potential," commented Ben Marrel, founding partner of Breega, who led
Fintech, which historically worked with BNP Paribas and Banco Sabadell, extended its partnerships to other banks, including Crédit Mutuel CIC, Barclays and La Banque Postale.
"Our technological solution and its badociated services enable banks to benefit from a very powerful real-time payment account management tool, "argues Sébastien Burlet, the executive chairman and co-founder.
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