Lemonway Acquires PayGreen's Business
Lemonway, the pan-European payment institution dedicated to marketplaces and crowdfunding platforms, announces the acquisition of PayGreen's business, a French specialist in e-commerce payments.
Founded in 2016, PayGreen has established itself in the restaurant, tourism, and leisure sectors. The Rouen-based company offers payment solutions including meal vouchers and holiday cheques, as well as tools for calculating the carbon emissions of online orders and a 'round-up' system that allows each transaction to support charitable projects or offset carbon emissions. Synergies to Dominate the European Payment Market
This acquisition enables Lemonway to extend its expertise to e-commerce sites, complementing its historically marketplace-focused offering and third-party account payment solutions. The team of 11 employees, including PayGreen's three co-founders, will now form Lemonway's e-commerce department.
As a payment institution regulated by the ACPR, Lemonway will also become PayGreen's Payment Service Provider (PSP), opening the doors to the European market where Lemonway already serves over 400 platforms in about 20 countries.
'This acquisition fits perfectly with our trajectory and ambition to become a key payment player in Europe. PayGreen's e-commerce positioning is highly complementary to ours. The combination of the two businesses will greatly enhance our customer offering,' explains Antoine Orsini, CEO and founder of Lemonway.
This transaction immediately brings Lemonway: A transaction volume of 20 million, generating €726 million in payments since the company's creation, with an average basket of €36.3.
A business that is EBITDA break-even. A Sovereign Payment Player
'This acquisition by Lemonway is a tremendous opportunity for us to accelerate our development at the European level. It was essential for us to join a French player sharing our values to build together a sovereign European payment champion. Our clients will now benefit from a more robust infrastructure and complementary expertise, giving them access to a complete payment ecosystem,' , says Etienne Beaugrand, CEO and co-founder of PayGreen.
A vision shared by Damien Guermonprez, Executive Chairman of Lemonway: 'In a technology-driven sector, our real strength lies in our teams' commitment and the quality of our customer support. With PayGreen joining us, we strengthen our ability to offer tailored and close support, making Lemonway the trusted partner for e-merchants and marketplaces in Europe'.
As a reminder, Lemonway ranked first in the financial services sector in Les Echos' 2024 ranking, with an average revenue growth of +63% from 2020 to 2023. Companies In This Post
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