Part of the money will be used to expand its operations in Latin America in 2021 and 2022, including Chile, Colombia, Ecuador, Peru and Uruguay. In addition to Kingsway Capital, Draper Associates, Valor Capital, Cadenza Capital Management, Draper Cygnus, Coinbase Ventures, and Supervielle participated in the round.
The company last raised a USD 1 million seed series led by Draper University and Draper Cygnus in 2020, in which Silent Unicorn and Amagis Capital also participated. Lemon plans to launch a crypto card in conjunction with Visa in October 2021, while it works on DeFi lending, borrowing, and trading products.
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