The investment will enable Lemonero to expand into Western and Eastern Europe and develop new products. Last year Lemonero was awarded by the SME Banking Club as The Best Digital lending platform for the SMEs market in the CEE market and today the company cooperates with hundreds of online stores on CEE market and has provided loans worth several tens of millions euros.

“Lemonero's main goal is to support small and medium-sized online stores with capital that will help them grow and prevent unnecessary bankruptcy. Today, we know that up to 60 % of e-commerce players collapse prematurely due to lack or unavailability of external capital. We have successfully shown in the Czech Republic and Slovakia that Lemonero works and helps the growth of not only online stores, but the entire e-commerce market. Now we are going to carry out this vision in Europe with the support of Société Générale Grooup,” comments on the successfully completed seed round Jan Laštůvka, founder and CEO of Lemonero.

Lemonero will leverage the investment, which is a combination of equity and debt financing, to expand into foreign markets. First, the company will head to France and the Netherlands and plans to enter the DACH region and Eastern European countries.

Lemonero provides a unique digital lending solution driven by artificial intelligence and machine learning. Specializing in the e-commerce and omnichannel market, Lemonero can provide growth capital even to those SMEs, which are not able to reach it at traditional lending institutions. Moreover, the whole process is handled online and takes no longer than ten minutes. Meanwhile, Lemonero is working on the development of a new product to help its customers improve their cash flow management.

“We are able to make the path to growth capital more accessible and easier for small and medium-sized companies by using artificial intelligence. Our customers can arrange financing in ten minutes, completely online and use the money immediately to inventory purchase or marketing investment. More than 70 % of our clients repeatedly return to us, and that is the key indicator of quality and satisfaction. That is why we believe in our future success in Europe," adds Jan Laštůvka.

"In less than three years of its existence, Lemonero proved itself to be a unique, and above all, functioning business model with great potential. We, in KB SmartSolutions, are glad to support Lemonero's growth and further expansion on the European market of e-commerce digital financing. That financial investment shall be used mainly for expansion into France and Netherlands, in the near future also to DACH region and Eastern Europe. Our partnership also helps the transformation of Komerční banka into a digital bank,” says Patrik Nový, Director of KB SmartSolutions that also belongs to the Société Génárale Group.