Brokerage company lemon.markets has outlined ambitious growth plans after securing €12m in a new funding round. The Berlin-based firm plans to open 100 million brokerage accounts after tapping existing investors and new lenders for the funds. It follows an impressive H1 for lemon.markets, which saw its market volume jump and new partners onboarded successfully.
German brokerage lemon.markets secures €12m in funding
The strong performance of its digital brokerage and custody solutions encouraged previous investors, including Lakestar and Creandum, to fund the next stage of its expansion. lemon.markets also attracted investment from CommerzVentures and Heliad, which will support the company on a technical level.
In a statement, lemon.markets CEO Max Linden said that CommerzVentures showcased a “deep understanding” of its target market. He added:
With the fresh funding, we will double down on the momentum in the market, bringing more partners and products live over the coming months.
It has only been four years since lemon.markets was founded, but growth has accelerated during the last 12 months. It recently secured BaFin licences and expanded its brokerage-as-a-service platform. The company is now capable of delivering a range of high-quality services to clients, including financial portfolio management, proprietary trading and investment advice.
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The brokerage and custody market is currently thriving, which bodes well for lemon.markets. There are forecasts that global market volume will surge to $63bn before the end of the decade, with 39% growth in just the custody market expected during that period.
Creandum’s Simon Schmincke said that lemon.markets is uniquely positioned to “win both FinTechs and traditional players as clients”.
