Fintech company secures $2.5m for American and European expansion
A London based fintech company has secured multi-million dollar funding to continue its expansion.
LemonEdge has raised $2.5m in a fundraising round led by Sidekick Partners as well as investors Lauren Iaslovits (Investran founder) and Tikhon Bernstram who sold his business, Scribd and Parse, to Facebook for $85m.
Co-founded by Gareth Hewitt and Jamie Nascimento, LemonEdge’s technology platform offers a low-code development platform for the complex accounting demands of the private equity industry and aims to enable businesses to develop or customise solutions faster than traditional approaches
Gareth Hewitt, CEO of LemonEdge, commented: “We are pleased to have completed a highly successful funding round, and to have the support of such well-renowned investors.
“For more than 20 years, I’ve seen an astonishing amount of financial data inside legacy applications or spreadsheets that do not communicate and that are insecure.
“LemonEdge’s low-code platform delivers the next generation of private equity performance and accounting software, without dependence on workarounds. LemonEdge is 10x faster to develop and deploy, and it is scalable, adaptable, and secure.”
Jamie Nascimento, CCO of LemonEdge, added: “We drive informed decision-making with the future of tailored and complete accounting solutions. Our product is best-in-class, and we are focused on building the best possible team to help grow LemonEdge.
“Our customers are the next generation of financial services professionals who have grown up in an ever-smarter and more connected world – they expect solutions which not only match their needs, but empower their capabilities.”
LemonEdge’s low code platform is fully customisable and automates the tasks required for shadow accounting, LP specific performance calculations, and fund administration. The platform also enables real-time scenario modelling with its unique Canvas function.
Both Gareth Hewitt (CEO) and Jamie Nascimento (CCO) draw on 20 years of financial, business & marketing experience each, honed from founding previous software companies managing over $50bn of alternative assets across three continents.
They will use the funding to recruit top talent for development, implementation, and sales in the company’s London and New York offices.
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