The French payment institution that passported its financial agreement to 28 countries of the European Union continues its expansion, and now covers 20 countries operationally.
"We owe everything to Europe and to our European passport. Without it, we would not have gone so fast. Our funding comes from the European Union and our new recruits as well" rejoices Damien Guermonprez, CEO of LEMON WAY.
347 new partners were signed during the first half of 2016, bringing the number of partners to 515, mainly crowdfunding sites such as Lendix or marketplaces. Lemon Way opened three additional offices in Berlin, Milan and Barcelona in order to get closer to its customers, in addition to its London and Dakar subsidiaries. The company now employs 75 people of 25 different nationalities to serve its European customers. Yet profitable, Lemon Way obtained a loan amounting to € 1.2 Million from BPI France, bringing the total commitment to € 2 Million. The loan is backed by warranty InnovFin SMEs in the EU within the framework of Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI).
FINE PROSPECTS DESPITE THE BREXIT
"London will no longer be the gateway to the European single market and we already welcome requests from customers who were using British payment institutions" says Sébastien Burlet, President & founder of LEMON WAY.
Aware of the unique opportunity that would represent the shifting of a portion of the FinTech activities from London to the European continent, Lemon Way accelerates its development, including through its sales subsidiary in London tailored for customers wishing to cover Europe.
Lemon Way confirms its objective to open more than 2 Million new payment accounts in Europe in 2016, in order to increase its total number of customer accounts to 3.3 million by the end of the year. Regarding partners recruitment, the target is revised upwards and could reach 1,000 partners platforms.