Deal Summary
On 14 January 2025, Lemonade Technology Inc. (“LemFi”), a London-based financial services platform, announced that it had raised $53 million in a Series B funding round. LemFi offers cross-border payments and multi-currency accounts to African and Asian immigrant communities and enables payments across 27 send-from markets and 20 send-to countries. The round was led by London-based Highland Europe, with participation from Left Lane Capital, Palm Drive Capital, Y Combinator, and Endeavor Catalyst, the latter being a new investor. With this investment, LemFi’s total funding is approximately $85 million. The funding will drive LemFi’s strategic expansion into key European markets, including its recent UK launch and upcoming entry into Germany. Additionally, it will enhance LemFi’s capacity to deliver hyper-localised financial services via partnerships, recruit top talent, and scale payment licenses in new markets.
Terms
- Fund Manager: Highland Europe, Left Lane Capital, Palm Drive Capital, Y Combinator, Endeavor Catalyst
- Fund: Endeavor Catalyst Fund
