Payment Fintech Lemonway has been enlisted by EstateGuru to facilitate its expansion across Europe. EstateGuru is a marketplace matching property-backed loans with individual investors. EstateGuru is working on “developing a digital and borderless ecosystem for real estate financing and investing in Europe and beyond.”
Marek Pärtel, co-founder and CEO of EstateGuru, said they are expanding to multiple European countries this year:
“To be fully compliant with the regulatory requirements in all of the operating countries, and to offer our investors the best possible service, we will start using a licensed payment service provider for storing funds differently from the current set-up. I’m pleased to announce that we’ve found the best possible partner in Lemonway, the pan-European payment institution whose solution is trusted and used by over 1,400 websites in Europe, including 200 alternative financing platforms,” said Pärtel.
EstateGurue explains that for investors, this means they will receive a personal virtual IBAN in Lemon Way. The p2p lender says that transaction matching will be improved, and money will move faster. All processes will also be in accordance with the required procedures for the protection of client funds regarding the provision of payment services. Investors deposits will be held at BNP Paribas Bank. EstateGuru states that the migration will happen over several phases. During the first phase, investors from Lithuania will be migrated to Lemonway.
“We are proud to partner with EstateGuru, the leading European marketplace for short-term, property-backed loans already active in seven countries. Supporting EstateGuru payment operations, we totally deliver our mission which is to facilitate and secure transactions carried out on the marketplace for each of the stakeholders (investors, borrowers, marketplace). PSD2 requires to be precise and agile, and working with EstateGuru has been fantastic as they needed a partner who can adapt to the intricacies of regulations in Europe, ” Antoine Orsini, Co-founder and CEO of Lemonway.
EstateGuru recently raised over €925,000 capital on Seedrs in a crowdfunding round. The Seedrs offering was said to be part of a larger A-round €5 million round. A portion of the proceeds is being utilized for pan-European expansion.
Lemonway is a payments institution focused on marketplaces, alternative finance platforms, and other companies looking for payment processing, wallet management, and third-party payment in a KYC/AML – regulated framework. A top European Fintech, Lemonway received its payment license in 2012.