According to the exchange, this is the largest investment in the sector in the region in the last three years.
For the CEO of Lemon, the financial system of the future will rely on cryptocurrencies.
The Argentine cryptocurrency exchange, Lemon, ended a Series B financing round for USD 20 million, a type of investment that seeks to boost the growth of already consolidated firms and expand their market. With this capital, the company aims to double its user base in the next 12 months, reaching 10 million customers throughout Latin America.
This round was co-led by the American investment funds F-Prime and ParaFi, reflecting renewed international interest in the cryptocurrency ecosystem in Latin America. According to Lemon, it is the most significant investment in a firm in the region in the last three years.
The funds obtained will allow the fintech to strengthen its technological infrastructure and expand its presence in Colombia, Mexico, Chile and Brazil. These expansion plans are supported by Lemon’s experience in Peru, where in less than a year the app added one million users and issued more than 150,000 VISA cards.
Currently, the company has reinforced its position in the retail market of Peru and Argentina, with a combined base of five million active users. For the company, the new investment raised validates the sustainable and scalable business model that Lemon consolidated in the region.
According to Cavazzoli, “the new financial system is going to be global and use crypto as infrastructure.” Therefore, they see it as important to maximize their operations in Latin America in this context.
In addition to its regional expansion, Lemon is also positioning itself as a key player in the regulatory dialogue on the future of digital finance. As CriptoNoticias reported, at the end of July the company received US legislators involved in the GENIUS Law at its Buenos Aires offices, focused on regulating stablecoin issuers in the US.