Fintech Startup lemon.markets Pull $17M in Seed Funding
Coinspeaker
Fintech Startup lemon.markets Pull $17M in Seed Funding
German fintech startup lemon.markets haspulled the sum of $17 million in a seed funding round led by Lakestar and Lightspeed. As reported by The Block, the lemon.markets funding, which is notably conducted to capitalize on the fast-growing boom in the fintech industry, also enjoined participation from Angel investors including N26, Public.com, and Stripe.
The lemon.markets project was founded as an Application Programming Interface (API) services provider, as 21-year-old founder Max Linden seeks to bridge the gap amongst tech firms in Europe to build a functional stock market trading platform. lemon.markets is designed to occupy a very unique place in the future growth of trading systems, acting as the engine developers need to bring out their ingenuity to life.
At present lemon.markets offers two distinct products which include Trading and Market Data. The API services can also be accessed through a simple Dashboard and a Mobile App where users can manage their accounts respectively. The motivation behind the establishment of lemon.markets is hinged on the fact that there is no infrastructure assisting Europe-based developers to access the right tools they require to build personalized portfolio trackers, trading automation, and custom saving plans.
“The problem is 85% of people in Europe have not invested in any form,” Max said. “By building this infrastructure, we can allow other companies to solve very specific problems for different demographics, social backgrounds, and nationalities and cultures.”
Despite its relative newness, the lemon.markets platform has notably received as many as 50 proposals from fintech startups to build trading systems through the API it is offering. This move implies the demand for related solutions such as lemon.markets offers is very high.
lemon.markets to Build Capacity for Cryptocurrencies Following its Funding
Nowadays, it is becoming very common to have a fintech startup extend its core product offerings into the digital currency ecosystem, as both are now becoming highly interwoven. The evolution that has been recorded in the crypto ecosystem over the past decade has made it possible to have the exact market structure as the stock markets, hence, the need for many fintech firms to lend support for crypto-related trading venues.
lemon.markets also comes off as the emerging fintech startups looking to lend support for cryptocurrencies in the long term as confirmed by Max Linden.
“Crypto is obviously top of mind,” he said. “Because in the end, we want to give people the ability to get the best portfolio possible and this is something which is requested by the mass market a lot.”
While additional details have not been shared with respect to the projected support for crypto, some of the startup’s core partners in this latest seed round are also quite invested in the digital currency ecosystem and will be able to lend the right support to the lemon.markets team might need when it is ready to make its move into the nascent crypto world.