Deutsche WertpapierService Bank (dwpbank) has agreed to buy Berlin-based brokerage-as-a-service platform lemon.markets
Founded in 2020, Lemon.markets provides digital brokerage and custody infrastructure, enabling any company to offer investment products. Last year it secured a license as an investment firm from German regulator BaFin, enabling it to provide contract broking, investment advice, financial portfolio management, financial commission business, proprietary trading, and custody business.
A year ago, the firm closed a €12 million investment round led by CommerzVentures, bringing its total funding to €28 million.
It now becomes part of dwpbank, a German provider of securities services, with the business operating a two-brand strategy but working together to develop their platforms.
Dwpbank says that clients will benefit from an expanded and competitive portfolio of services - ranging from full custody to digital Brokerage-as-a-Service offerings, which can be dynamically combined within their own customer base.
Max Linden, CEO, lemon.markets, says: “Both companies share the mission to make investing in capital markets more accessible - the best foundation for our cooperation. Alongside our technological leadership, we’re sending a signal of strength to existing and future partners and customers."
Kristina Lindenbaum, board member, client and digital transformation, dwpbank, adds: “With the technological know-how and innovative offering from lemon.markets, we can now offer Banks, as well as Fintechs and Asset Managers, the best of both worlds in the securities business - expertise and stability combined with innovative strength. "