Feedback: Lemonway reports strong growth

Lemon Way, the French FinTech specialising in secure payments for marketplaces, has just presented its results. The year 2021 will once again have been marked by strong growth in its activities, driven in particular by the signing of numerous partnerships.

FACTS

• A pan-European payment institution, Lemon Way has established itself over the years as a leader in the marketplaces sector. The French FinTech offers a mobile payment and collection solution for third parties. And this year 2021 has once again been marked by the relevance of its strategy and positioning.

• Indeed, the FinTech reports a 76% growth in its transaction volumes, i.e. €5.5 billion in payments, compared to just €900 million in 2016.

• Lemon Way has seen its revenues increase by 65% and can now count on a turnover of 12 million euros.

• 100 new customers have joined the FinTech portfolio, including Decathlon, Bricks.co and Funding Circle.

• Lemon Way finally had to recruit, creating 70 new positions and increasing its workforce from 90 to more than 160 by 2021.

• Based in France, but also in the UK, Italy, Spain and Germany, Lemon Way generates 40% of its turnover outside France. It currently serves marketplaces in 21 European countries.

CHALLENGES

• Further optimise its services: Lemon Way is taking advantage of this momentum to continue its investments. It has identified KYC as an improvement objective and is investing 5 million euros in the development of a new identification and anti-fraud tool.

• On the road to tomorrow's finance: FinTech's prospects for development are now focused on what its managers identify as a market of the future, namely blockchain and crypto-currencies. To this end, Lemon Way has joined ADAN, the Association Des Actifs Numériques et des Technologies Blockchain. The launch of a BNPL service would also be of interest to FinTech.

• A return to crowdfunding: Lemon Way also specifies that its strategy will be turned, as at the launch of the service, towards crowdfunding. However, the FinTech nuances this return to its roots by specifying that it wants to position itself as a reference in real estate crowdfunding this time, which will have grown by 90% in 2021. As a reminder, real estate crowdfunding consists of raising funds from individual investors to finance a project in the real estate sector.

MARKET PERSPECTIVE

• Lemon Way should notably carry out a new large-scale fundraising, at the beginning of 2023, to finance all these projects.

• But one of the keys to Lemon Way's success also lies in the multiplication of its partnerships. The end of 2021 will have been marked by its rapprochement with Tink, a leading European open banking platform.

• It is also thanks to this partnership that Lemon Way was able to launch Pay by Bank, a payment initiation service for marketplaces, which is in line with the times.