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MGI 360 Ratings - Lemonway in Commerce & Payment Platforms

MGI 360 LogoSUMMARY: We are initiating coverage of Lemonway in the Commerce and Payment Platforms market with an MGI 360 Rating of 42 and a Neutral outlook.

OPINION: Lemonway offers secure pay-in and pay-out infrastructure for regulated marketplaces and crowdfunding operators. The solution aims to remove complexity and streamline regulatory compliance for B2B/B2C/C2C platforms. To-date, over 1400 digital marketplaces and crowdfunding websites are using the Lemonway solution. The deliberate focus on regulated marketplaces allows Lemonway to carve out a narrow but potentially defensible niche. Lemonway utilizes OCR technology to facilitate instant user onboarding and payment account provisioning – all via a single API. The customers benefit from process automation as well as built-in compliance with KYC (Know-Your-Customer), AML (Anti-Money-Laundering) and other financial regulatory mandates. Distribution is achieved via a network of bank partners who handle pay-ins and Lemonway handles the pay-outs. The recent (2019) funding round brought in essentially a brand-new management team which will face a number of challenges including sales and marketing execution, expansion of the partner ecosystem and solution packaging. 

USE CASE: Any organization looking to outsource the handling and compliance of automated split pay-outs both within and across borders with a specific focus on marketplaces and crowd-funding firms.

COMPANY DESCRIPTION: Lemonway focuses on enabling a secure payment infrastructure for regulated digital marketplaces. The company was founded in 2007 and has grown steadily and is registered as a Payment Institution in France and passported throughout the EU. To date it has raised Eur 35M in funding (10M in 2018 and 25M in 2019). The 2019 capital infusion brought in experienced management and new board members. The company has global staff of 90 with HQ in Paris and offices in Milan, Madrid and London with DACH and Baltics on the roadmap.

COMPETITORS: Stripe, PayPal, BlueSnap, Checkout.com, Adyen, Webhelp

ABOUT MGI 360 RATINGS

MGI 360 Ratings is a comprehensive system for evaluating technology companies. IT organizations use MGI 360 to track suppliers, assess purchasing risks and identify promising new vendors. Vendors utilize MGI 360 to track their markets and evaluate partners. Institutional investors use MGI 360 for independent assessment of tech companies. MGI 360 ratings help lower costs, save time, reduce risks, and identify new opportunities.

The MGI 360 ratings are on a scale from 0 to 100 and reflect company opinions of MGI analysts in five key areas on a scale of 0 to 20:

  • PRODUCT: How strong is the product competitive position?
  • MANAGEMENT: How competent and experienced is the management team?
  • CHANNELS: Does the company have a sales capability and channels needed to bring products to market?
  • STRATEGY: Does the company have a realistic view of the opportunity and a compelling strategy for success?
  • FINANCE: Is the company growing and profitable?

Each of these key criteria is subdivided into numerous sub-categories. In total, over 149 criteria are combined to generate an MGI 360 rating in each specific market space. Companies can have one or more MGI 360 rating - one for each market. MGI 360 ratings are revised as important developments occur. While the MGI 360 rating process is comprehensive, this scoring system is not meant to be a predictor of company solvency, liquidity, absence of accounting fraud or stock performance. Access to MGI 360 Ratings is by subscription.

ABOUT MGI RESEARCH

MGI Research is an independent industry research and advisory firm focused on disruptive trends in the technology industry. Through ratings, industry benchmarks, best practices groups, subscription research, market forecasts, advisory engagements, industry studies and conferences, MGI Research helps clients identify opportunities for reducing IT costs and minimize technology risks. MGI Research analysts work closely with business and technology organizations to help make timely go/no-go IT investment decisions, optimize vendor relationships, and create practical strategies for new initiatives in agile billing, payments management, order management, CPQ, contract lifecycle management and other elements of agile monetization platform (AMP).

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