Private Markets – Lemon Way raises 25 million euros from Toscafund Asset Management

Founded in 2007, the pan-European payment institution Lemon Way offers payment solutions for marketplaces, crowdfunding platforms and e-commerce sites looking for a payment processing system and collection on behalf of third parties in a secure and regulated environment. FinTech distinguishes itself by forging strategic partnerships with several European banks in order to offer open and agile solutions to its clients.

To date, over 1,400 European online marketplaces, including 200 crowdfunding platforms, have been seduced by Lemon Way's services. Since December 2012, the company has registered 120 platforms as payment agents with the ACPR – Banque de France.

In 2018, the company processed a turnover of 1.9 billion euros of flows thanks to the quality of its offer and the natural growth of its partner platforms. FinTech aims to accelerate further to reach the € 3 billion flow end 2019, a growth of 58%.

With this new levy, Lemon Way aims to continue the development of its products, through a robust API and new payment services in line with the complex requirements of its customers. FinTech, which already operates in 12 European countries, is well established in France, Italy and Spain, and will strengthen its presence in England and Germany to become one of the leading payment institutions in Europe.

"We are very pleased to have found in Toscafund an influential partner, with international experience and perfectly complementary to our investors in the first round Breega and Speedinvest. This investment will bring us additional resources to allow us to take the next step. "says Antoine Orsini, Managing Director and co-founder of Lemon Way. "Toscafund is a leading investor who fully understands the ecosystem of regulated players. This fundraising will help us develop our technology platform and fund our geographic expansion "adds Damien Guermonprez, Executive Chairman of Lemon Way.

Fabrizio Cesario, Partner at Toscafund, one of the largest fund managers in the UK, says: "We are excited to join Lemon Way's existing shareholders and support the team with our capital and financial services expertise. Building on Toscafund's long history of financing the growth of successful entrepreneurs, this transaction is perfectly in line with our goals of helping companies surfing technological change to disrupt the financial services industry. "

"The target market for Lemon Way is booming: B2C, B2B and financial online marketplaces are emerging all over Europe"adds George Koulouris, Partner at Toscafund. "Their technology and unique expertise give them a head start".

Lemon Way and Toscafund have been advised by the respective law firms Goodwin and Proskauer. This transaction follows a € 10m Series A fundraising in July 2018 with Breega and Speedinvest venture capital funds.