Limonetik Increases Its Capital
- France-based start-up Limonetik has raised 5.1 million euros additional capital. Since 2008, it has been monetising private label means of payments in partnership with MasterCard (cheques and gift cards, virtual currencies, merchants’ cards, etc.) to ensure their acceptance on other merchant websites.
- Funds will be used to finance:
- international development (Germany, Spain, Italy, Belgium, Switzerland and the United Kingdom) in support for its pan-EU e-merchant customers, such as Pixmania,
- the development of added value services: compliance with 3D-Secure and customisation of Limonetik application, particularly of payment acceptance (choice of a reduction amount depending on the selected means of payment, on purchase history, etc.),
- the integration of alternative mobile means of payment, to ease the payment process (“one-click”), such as Boku and Zong.
- In 2011, Limonetik should process 35 million euros transactions on its platform, compared to four million in 2010 and five already for Q1 2011. This considerable growth is due to the increased number of means of payments accepted online (twice as many, some 40 planned for 2011), as well as to the integration of 130 new merchants (compared to 30 to this day).
- Limonetik wishes to expand throughout Europe its original, value-added offer for e-commerce payments. It acts as a facilitator between e-merchants and the ever growing list of private-run online payment schemes. Limonetik helps these closed-loop schemes to avoid the long and expensive development of a dedicated acceptance network. For e-commerce websites, the start-up integrates and customises these methods as they grow popular.
- Limonetik challenges e-PSPs (Atos, Ogone, Paybox, etc.) and provides them with more transactions while aggregating less used means of payment. As the number of alternatives to card payment increases, this positioning should succeed. Of interest if that British funds were ready to invest large amounts of capital during the last funds raising.