Lemonero launches in the Netherlands

Ecommerce lending startup Lemonero is launching its platform in the Netherlands. It is the second expansion after a launch in Central and Eastern Europe last year. It already announced plans to expand into the DACH region, next year.

After being founded in 2019 in the Czech Republic, the company expanded into Slovakia. Earlier this year, it raised over 10 million euros to accelerate its expansion plans. Now, Lemonero is launching in the Netherlands.

Data-based financing

Lemonero provides funds to small and medium-sized ecommerce businesses. Companies who need extra funding quickly to purchase inventory can apply for a loan of up to 40,000 euros with the lender. According to the company, it is easier and quicker to apply for a loan through the platform than with a bank. Customers can upload their documents and sign the contract online through the platform. The application takes a total of 10 minutes.

‘Businesses do not receive a higher loan than they can afford.’

Loan applications are judged with a proprietary AI-tool. The algorithm makes sure that businesses do not receive a loan higher than they can afford. In addition to online stores, the lending startup also works with partners such as marketplaces or payment providers. They can integrate Lemonero’s software and offer funding to merchants.

Expansion in Europe

After working with partners in the Netherlands, the company decided to launch its services there for online stores. “The Netherlands is our first stop in our expansion to Western Europe. We already have plans of launching in the DACH region and Spain next year”, says Eva Vašutová, partnership manager at Lemonero.

‘Lemonero will invest over tens of millions of euros in Dutch businesses by the end of this year.’

In the next couple of years, Lemonero is planning on launching in France, Spain and the Nordics. The company plans to have invested over tens of millions of euros in online stores in the Netherlands by the end of this year.

Revenue-based financing

The company is already serving thousands of online stores in Czech Republic and Slovakia. It also has partnerships with well-known platforms like GoPay, Mall and Alza. These platforms can offer Lemonero’s embedded financing to online stores.

‘Over 84% of all requests are approved’

The lender expects to grow its customer base in the rest of Europe quickly, with its revenue-based financing. According to Lemonero, over 84 percent of all loan requests are approved. Repayments are based on a percentage of an ecommerce business’ revenue. This means that the loans do not influence a company’s cashflow. Because businesses do not need to give any collateral, this financing solution is particularly popular with online stores.