The e-commerce lending startup Lemonero is launching in the Netherlands. This is Lemonero's second expansion after a successful launch in Central and Eastern Europe last year.
It already announced plans to expand into the DACH region, next year. Lemonero was founded in 2019 in the Czech Republic, and earlier in 2022, managed to raise over 10 million euros for its European expansion plans.
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Lemonero's aim is to provide funds to small and medium-sized e-commerce businesses using data to review the application.
The business model for this e-commerce lending company works as follows: Companies who need extra funding quickly to purchase inventory can apply for a loan of up to 40,000 euros with Lemonero, completely online.
The company must provide a given set of pieces of information and answers to Lemonero, and upload its documents to the Lemonero platform, which will in turn qualify its request and connect them with possible banks for lending.
The whole process takes roughly 10 minutes.
The company is already providing lending services for thousands of online stores in the Czech Republic and Slovakia.
And has partnerships with well-known platforms like GoPay, Mall, and Alza. These platforms can offer Lemonero’s embedded financing to online stores.
Officially, Lemonero claims that over 84% of the requests are immediately approved.
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