Funds fintech Lemonway has reached profitability after a twelve-month interval that noticed revenues double to achieve €32m in 2023 (from €16m in 2022).
Lemonway says its internet revenue for the 12 months hit €5m, permitting it to self-finance its regulatory capital necessities.
The Paris-based firm, which launched in 2007 processed €9.6bn of funds final 12 months, a 24 per cent uplift on 2022, as its market focus paid off.
Lemonway counts shoppers resembling SNCF Join & Tech, Billetweb, Decathlon, Ecole de Ski Français and Drouot.
In 2024 the corporate says it plans to launch a ‘purchase now, pay later’ in partnership with Oney.
“At this time, we’re getting into 2024 with better power and maturity to serve the booming market sector. Our groups have been additional strengthened in 2023 to offer the next stage of experience in 2024 and proceed our enlargement in Europe,” Lemonway’s CEO Antoine Orsini mentioned.
“The signing of partnerships such because the one with Société Générale will assist our ambition to develop and seize market share within the coming years. The opening of an workplace in Hamburg within the first quarter can even allow us to strengthen our nonetheless modest presence in Germany and can reinforce our place as a key participant in funds for marketplaces,” Orsini added.
Lemonway has raised a complete of €50m from three funding funds, Breega, Speedinvest and Toscafund.
