LemonEdge, a fund accounting platform designed specifically for the private markets sector, has secured $21m in Series A funding as it looks to speed up product development and deepen its footprint across the US and Europe.
The round was led by Blackstone Innovations Investments, the early-stage venture arm of Blackstone, and included BNY, the global financial services group, alongside existing backer Sidekick Partners. The fresh capital takes the London and New York-headquartered company’s cumulative funding beyond the $30m mark.
Alongside the raise, LemonEdge has bolstered its executive bench. New York-based David T. O’Malley joins as chief executive officer and board chair, bringing a track record of scaling international SaaS and enterprise FinTech firms. He previously served as president of Numerated Growth Technology, where he oversaw its global expansion and commercial strategy before steering the business to an acquisition by Moody’s Analytics.
The company has also named Katharine Briggs as chief growth officer. She will oversee LemonEdge’s worldwide go-to-market approach, delivery and client growth as demand rises across the US and EMEA. Briggs has a background at fast-scaling software companies, where she focused on converting product development into tangible results for customers. Her remit covers the full client journey, from initial sale through implementation and ongoing success.
Founded in 2020 and backed by Blackstone, LemonEdge provides fund accounting and operations technology built to handle the intricacies of today’s private markets. The platform digitises processes that older systems left offline, running them in real time within a single, automated, auditable and governed system of record.
Its clients span private equity firms, fund administrators and large family offices, which together hold more than $2.5tn in assets under client management.
LemonEdge CEO David T. O’Malley said, “LemonEdge was built to simplify the complexity of the rapidly scaling private markets space, with global private market AUM forecast to reach $26.7tn by 2030. Legacy systems froze, and, as a result, many of the most sophisticated private market firms in the world are being held back by tools that were not designed for the complexity they face today. With this new funding, we plan to continue to address these major gaps and accelerate growth over the next 12 months, by bringing on a significant number of new clients and rapidly deploying our 2026 and 2027 innovation roadmap.”
BNY global head of fund & investor solutions, asset servicing Christine Waldron said, “Many of the firms we serve have requirements that legacy systems can no longer support, from new fund types to the safe adoption of emerging technologies. Both depend on one system of record where the data is governed, auditable and accurate. LemonEdge is among the platforms purpose-built to address these challenges, and we look forward to collaborating with a team that shares our commitment to solving the complex problems our clients face.”
Copyright © 2026 FinTech Global
