PANews reported on October 13th that Lemon, an Argentina-based crypto fintech company, has secured $20 million in Series B funding led by F-Prime and ParaFi, with participation from DRW Venture Capital, Van Eck, Persea VC, Alumni Ventures, and Lambda Class. The platform plans to expand into Latin American markets, including Colombia and Mexico, with the goal of increasing its user base from 5 million to 10 million within the next 12 months.
Founded in 2019, Lemon provides digital asset trading, payment, and Visa crypto debit card services. This round of funding brings its total funding to $66 million. The platform projects it will process $9.3 billion in transactions and over $160 billion in user assets under custody by 2025.
