By Latest Finextra Research Start-ups Headlines
Berlin-based brokerage-as-a-service platform lemon.markets has raised €12 million in a funding round led by CommerzVentures.
Heliad and existing investors including Creandum, Lakestar, Lightspeed and System.one joined the round, which brings total funding to €28 million.
Lemon.markets provides digital brokerage and custody infrastructure, enabling any company to offer investment products.
Earlier this 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.
In March the startup went live in cooperation with Deutsche Bank, BNP Paribas, and Tradegate. Financial education app beatvest signed on as a customer to offer ETF investments for its B2C customers.
The new funding will be used to introduce more partners and products, while the company also plans to expand across Europe in 2025 as it targets the opening 100 million brokerage accounts.
Jonas Wenke, CommerzVentures, says: “At CommerzVentures, we love partnering with the most talented teams that are solving financial services’ most complex problems. lemon.markets certainly ticks both boxes.”
Source: Latest Finextra Research Start-ups Headlines