Argentinian crypto startup Lemon raised a $20M Series B round co-led by F-Prime and ParaFi. Endeavor Catalyst, DRW Venture Capital, Alumni Ventures, Van Eck VC, Persea VC, Lambda Class, and Stani Kulechov also participated in the round.
Lemon is a digital wallet that allows users to buy, sell, hold, and use cryptocurrencies. Lemon users also have access to multiple blockchain deposit networks and a Visa card.
Lemon will use the funding to consolidate its presence in Colombia following the launch of Bre-B, the country’s new instant payments network. Lemon currently operates in Colombia with a pilot crypto service. With the funding, Lemon will launch the Lemon Cash app and the VISA Lemon Card.
“With the launch of Bre-B, Colombia is a high-potential market for payments solutions that can improve financial access. Bre-B is facilitating digital finances, and we want to maximize this opportunity with services that bring pesos, cryptocurrencies, and payments together,” commented Marcelo Cavazzoli, founder and CEO of Lemon.
Since the fintech’s $16.3M Series A, Lemon has expanded into Brazil, Peru, Uruguay, Colombia, and Mexico and now serves 5 million users.
Read more on Latam Fintech.
