Italian crowdfunding is undergoing a moment of great evolution, amid new regulations such as the European Regulation and rising trends including NFT and cryptocurrencies, registering a progressive year-on-year development of the whole sector.
Lemonway, a French payment institute for alternative finance platforms and marketplaces and a leader in crowdlending in Italy, is the leading player with European growth reaching +65% in 2021, playing a key role for its clients in processing and collecting payments for third parties.
In addition, the French fintech company will invest $5.3 million (€5 million) in the new KYC [Know Your Customer] experience that will facilitate fraud identification, onboarding, and conversion rate maximization in a secure and smooth process.
According to the University of Cambridge, in 2020, Italy was the top EU country in raising capital through crowdfunding and alternative finance, reaching 4th place in the world. 2021 was the year of confirmation for the sector with funding from fintech platforms for Italian startups and SMEs amounting to $3.7 billion (€3.5 billion), up 60 percent from $2.4 billion (€2.3 billion) in 2020.
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The Development of Lemonway in Italy
Just six years after opening its Milan office, with a dedicated and continuously expanding team, Lemonway has contributed to the development of crowdfunding in Italy and has experienced exponential growth thanks in part to the massive use of digital commerce that has occurred over the past two years.
Thanks to international clients and strategic partners such as the provider Crowdcore, in 2021, in Europe, Lemonway grew 85 percent in transaction volume and 65 percent in revenue. Last year, the value of payments processed increased by 31% in Italy. In addition, the local portfolio added 20 customer platforms in 2021. As for Q1 2022, the value of payments processed grew by 45% in Italy, compared to the same quarter last year.
“The year 2021 was an important year because we experienced exponential growth in Italy and throughout Europe, and this year we’re again experiencing a steadily growing trend. Confirmations also include the increasing use of cryptocurrencies and NFTs, a focus on compliance, standardization of funding, and continuous refinement of the investor experience,” said Luca Fabris, Account Executive Italy and Lemonway expert for the Italian market. “Lemonway’s growth is the result of a shared journey with clients, who receive a turnkey solution according to their specific needs. As a fintech specializing in crowdfunding solutions, we accompany clients, and throughout the entire payment process: from system simplification to regulatory compliance, to transaction management, user verification, and bank reconciliation.”
Lemonway is a pan-European payment institution dedicated to marketplaces, alternative finance platforms, and companies seeking payment processing, wallet management, and third-party payments with appropriate anti-money laundering (AML) and user verification (KYC).
To date, Lemonway has opened 8 million e-wallets for platform operators and raised 35 million euros from three investment funds, Breega, Speedinvest, and Toscafund. Lemonway is authorized and regulated by the ACPR (Autorité de contrôle prudentiel et de résolution) and benefits from the “EU financial passport” in 30 countries. The company with offices in Paris (HQ), London, Madrid, Milan and Hamburg employs more than 180 people of 21 different nationalities.
In 2020, Lemonway was named among the fastest-growing FinTech startups (CB Insights 250 FinTech List) and among the 28 most promising FinTech companies in Payments Processing & Networks globally. The company, founded in 2007 in France, has five locations and over 180 employees. Across Europe, more than 400 marketplaces including 200 crowdfunding platforms, and about 8 million e-wallets, rely on Lemonway, to securely, compliantly, and easily manage investor, platform, and corporate payments.
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