Lemon Cash said to raise $16.3m in Series A funding

Argentinian crypto exchange Lemon Cash has reportedly raised $16.3m in its Series A round, which was led by Kingsway Capital.

These funds will enable the FinTech company to expand its operations in Latin America, with a focus on Chile, Colombia, Ecuador, Peru and Uruguay, according to a report from Coindesk. Capital is also being reserved to double the size of its team, which is currently 35 strong.

Lemon Cash is looking to release a crypto card in partnership with Visa late this year and is currently working on decentralised finance lending, borrowing and trading products.

Commitments to the round also came from Draper Associates, Valor Capital, Cadenza Management, Draper Cygnus, Coinbase Ventures and Grupo Supervielle.

The FinTech company offers a mobile app, which is available on iOS and Android devices, to buy bitcoin, ethereum and other cryptocurrencies.

The company reportedly raised a total of $1.1m across a pair of seed rounds last year.

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