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Lemon Secures $20 Million Series B to Expand Latin American Crypto Services

The Argentine crypto fintech raises $20 million to fuel expansion into Colombia and Mexico, with a goal to double its user base to 10 million in 12 months.

Summary

Argentina-based crypto fintech Lemon has raised $20 million in a Series B round 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 Colombia and Mexico, aiming to double its users from 5 million to 10 million within 12 months. Lemon, founded in 2019, provides digital asset trading, payments, and a Visa crypto debit card. Its total funding now stands at $66 million, with projections of $9.3 billion in transaction volume and over $160 billion in user assets by 2025.

Terms & Concepts
  • Series B funding: A later-stage investment round in venture capital, typically used to scale a company's operations and market reach.
  • Visa crypto debit card: A payment card linked to cryptocurrency holdings, allowing users to spend digital assets like traditional currency at merchants.
  • Digital asset storage: Services that securely store cryptocurrencies and other blockchain-based assets, often using custodial solutions or secure wallets.