LEMON WAY, the pan-European payment processor for peer-to-peer lending and crowdfunding platforms, has secured a €25m (£21.7m) investment from Toscafund Asset Management.
The Paris-based firm said on Thursday that it will use the fresh capital to develop its products and strengthen its presence in the UK and Germany.
The deal follows Lemon Way’s completion of a €10m series A fundraising in July 2018, led by venture capital funds Breega and Speedinvest.
More than 1,400 European marketplaces, including 200 crowdfunding platforms, have used Lemon Way’s services.
In 2018, the company handled total business volumes of €1.9bn and expects to process transactions in excess of €3bn by end of 2019.
“We are pleased to have found in Toscafund a strong and internationally experienced partner which is complementary to our first-round investors Breega and Speedinvest,” said Antoine Orsini, chief executive and co-founder of Lemon Way.
“The investment provides us with substantial additional resources, allowing us to bring the company to the next level.”
“We are delighted to join Lemon Way’s existing shareholders and support the founders with our capital and expertise in European financial services,” said Fabrizio Cesario, partner at Toscafund.
“Building on Toscafund’s established track-record in providing capital to successful entrepreneurs, this investment is perfectly in-line with our mission to support companies taking advantage of technological change to disrupt the financial services industry.”
Lemon Way and Toscafund were advised by law firms Goodwin Procter and Proskauer Rose, respectively.