Lemonway acquires PayGreen to expand its ecommerce presence

Since its establishment, Lemonway has been focusing on serving the needs of the restaurant, tourism, and leisure industries, with the company facilitating payment solutions such as meal vouchers and holiday cheques, as well as tools for calculating the carbon emissions of online orders and a round-up system that enables transactions to support charitable causes or offset carbon emissions.

Now, by acquiring PayGreen, a French company specialising in ecommerce payments, Lemonway seeks to provide its knowledge to ecommerce sites, complementing its marketplace-focused offering and third-party account payment solutions.

What will the deal include?

As part of the deal, PayGreen’s team of 11 employees, including its three co-founders, are set to become Lemonway’s ecommerce department. Also, with Lemonway being a payment institution regulated by the ACPR, the company will serve as PayGreen’s Payment Service Provider (PSP), allowing the latter to enter the European market where Lemonway serves over 400 platforms in approximately 20 countries.

Furthermore, among the benefits that the agreement is expected to bring to Lemonway, the company cites a transaction volume of 20 million, generating EUR 726 million in payments since its establishment, with an average basket of EUR 36.3. Additionally, the transaction will enable Lemonway to achieve EBITDA break-even. Commenting on the news, representatives from Lemonway stated that the acquisition aligns with their company’s trajectory and commitment to solidifying its position in Europe’s payment landscape, as PayGreen’s ecommerce standing is complementary to theirs. By merging the two businesses, Lemonway and PayGreen seek to deliver an augmented and optimal customer offering.

When it comes to PayGreen, the move is set to support the company’s development strategy at a European level. The acquisition enables the company’s clients to benefit from an improved infrastructure and complementary expertise, equipping them with access to a complete payment ecosystem, according to officials.

A few months before this announcement, Mondu teamed up with Payin3 and Lemonway to improve its presence and B2B payment options in Europe. The move allowed Mondu and Lemonway to tailor payment processes for a B2B marketplace, as well as integrate the former’s BNPL services with Lemonway’s safe payment handling.