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Argentina's Lemon raises USD 16.3 in Series A

Tuesday 27 July 2021 12:45 CET | News

Argentina-based Lemon, a crypto exchange, has raised USD 16.3 million in a Series A round led by British fund Kingsway Capital.

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. 

The company, which currently has 35 employees, will use part of the money to double its team by 2021, mainly in Argentina.

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Keywords: cryptocurrency, funding, virtual card, crypto asset
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Argentina
This article is part of category

Blockchain & Cryptocurrencies