Lemon Way Claims Valuation of €65 Million
French Fintech firm Lemon Way says it is continuing to experience “spectacular growth” announcing that it will exceed €900 million of flows processed (inbound and outbound) during 2016, compared with €344 million in 2015 and €113 million in 2014.
During 2016, Lemon Way signed 639 new partnerships bringing the total to 838. The company now claims 11,060 small e-commerce sites that bring their payment transactions to their platform.
“Every month is a new record compared to the previous one. Our cruising speed is to triple our business every year and to improve our profitability even more, “said Sébastien Burlet, President of Lemon Way.
At the end-user level, Lemon Way has now surpassed 2.4 million payment accounts opened in Europe, versus 1.3 million at the end of 2015.
Due to European regulations, crowdfunding platforms, e-commerce marketplaces, wedding list sites, common gifts, carpooling, rental between individuals, etc. must use a payment institution to collect funds from their end customers. Lemon Way is now licensed in 30 European countries and has become one of the leading Fintech firms in Europe. Lemon Way won the Deloitte In Extenso Technology Fast 50 award at the end of November, in the category “coup de Coeur”, with a 16th ranking at the French level. At the European level, Lemon Way ranks 70th in the EMEA rankings of the Deloitte Fast 500. In 2016, Lemon Way obtained the FrenchTech pass through the Systématic competitiveness Parisian cluster.
At the European level, Lemon Way ranks 70th in the EMEA rankings of the Deloitte Fast 500.
In 2016, Lemon Way obtained the “Frenchtech” pass through the Systématic competitiveness Parisian cluster. Lemon Way intends on quadrupling its valuation over the next two years to reach the billion-euro valuation at the end of 2018.
With €7.5 million in revenues and applying a 9X the enterprise turnover, Lemon Way claims a valuation of €65 million. Lemon Way is raising money now so it can manage the requirements of the ACPR French regulator prudential ratio which is calculated according to the incoming and outgoing treated flows.
“We are driven by the growing wave of FinTech, which must catch up in Europe compared to the Asian and North American continents,” said Damien Guermonprez, CEO.
