Photo - Lemon Cash
play_arrow
View
49735

Lemon Cash

We take Commerce and finances into the new digital economy.

Argentina
Market: Financial services, Blockchain, Crypto currency
Stage of the project: Operating business

Date of last change: 11.10.2020
Rating
equalizer from 2000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:

Idea

We are creating the first all in one super app for people to transition between traditional commerce and finances into the new digital economy. We are developing a network where all these services may add up a greater value proposition to the users and merchant via synergies. We have built a modular solution that has the flexibility to focus on the biggest pain points of each south american country.
We free finance and create a borderless economy

Current Status

Total registered users (as of October): 10.000
Total registered merchants (as of October): 600
Total Active Users 1 (Transacted/Purchased digital assets last 30 days): 800
Total Active Users 2 (Transacted with QR or credit card last 30 days): 2500
Total Active Merchants (Transacting more than 100 USD): 300

Partnerships:
Germany loyalty and financial services firm, Co-Branded services integration (Digital Wallet, loyalty platform, digital assets management).
German Real Estate tokenization firm, Customers onboarding and services brokerage (Real estate investments).
German Bank, Co-Branded launch (Digital wallet, digital eCommerce, digital assets management, and cross-border payments).
Loyalty and financial service firm, Uruguay, Co-Branded services launch (Digital wallet, payment gateway and, digital eCommerce, loyalty programs).
Ecuador Bank, Co-branding Launch (Digital wallet, digital eCommerce, and cross-border payments).

Problem or Opportunity

70% of Latin American population is unbanked or underbanked (around 400 Million people) while SMEs unsatisfied financial need is around 250B USD.
Extended usage of cash (which renders useless services like bank transactions and paying the maintenance of said accounts), no proximity to a financial service provider, and lack of proper documentation are the main reasons preventing financial inclusion. (Data by IDB and WB).

Local currencies are very unstable, they offer no trustworthiness, saving value and/or predictability. (Argentinean Peso went fr om 10 AR$/USD to 145 AR$/USD in less than 5 years).

Why now?
The COVID pandemic is forcing the complete digitalization of money.
Merchants with physical stores need to go digital, and once they go digital, they need tools both for payment processing as for financial hedging in countries wh ere currencies depreciate on a daily basis

Vision: accelerate the transition into the future of commerce and money.
Our mission is to bridge the gap between financial excluded with banking and the new economy, freeing finances, making them sustainable, independent and creating a borderless economy for everyone.

Targeted problems:

Stores:
Cash management. Theft Risk. Human error in petty cash accounting. Financial transparency and access to financial services. Low customer loyalty/engagement. digitalization of operations.

Users:
Accessibility to ATMs and financial services. Financial services cost. Macroeconomic risks (Money cost of opportunity, Currency devaluation, inflation, etc).

Solution (product or service)

We are creating the most innovative and groundbreaking payments + banking company in the emerging markets of the next decade.
Imagine that Stripe, Square and Cashapp had a child, well, that's Lemon.
At Lemon, we have more than 300 merchants processing their online payments (Stripe like) and their physical payments (PoS/Square like) with our propietary PoS technology which allows both traditional payments (Credit, Debit & QR) and cryptocurrency payments. In addition, merchants that process payments with traditional methods (Cards), they can inmediately purchase crypto in 3 taps once they received their customer funds, allowing a quick and easy transition from Business and Personal funds/cashflow from traditional to crypto.
On the other hand, for retail users, Lemon works as a Neo Bank (Cashapp like), which allows both to send and receive bank transfers or crypto transfers.
We are working to develop an automated swap protocol, which will allow users to choose in what currency they wish to pay (Fiat or Crypto) and Merchants to choose in what currency they wish to receive the payment (Fiat or Crypto).

We aim to acquire 60.000 merchants during 2021 to process their payments with us, and to have the biggest merchant network created by a crypto company by 2022.

Competitors

Payment wallets:
MercadoPago, Nubi, TodoPago, Naranja X, Tigo Pay, Rappi, PayU, mobbex, dLocal, etc

NeoBanks:
Uala, Nubank, Sol, Brubank, etc

Remittences and cross-border payments:
Western Union, RIA, Transferwise, Global66, Bitex, etc

Digital Assets exchanges:
Ripio, Satoshi tango, Bitso, BitMex, etc

Easy to setup Online stores:
Mercadolibre, Tienda Nube, Wix, Mi negocio Personal, etc.

Advantages or differentiators

Shops + Events = Ultimate Marketplace platform
Find your favorite events and shops all in one place, just a search away.
Customize your shop with your brand name, logo and banner.
e-tickets system for events, festivals & conferences allows the organizer or producer to create his events and sell the tickets in a digital form.
Integrated Digital wallet for loyalty points redemption, QR capabilities and memberships payment.

We are creating the first all in one super app for people to transition between traditional commerce and finances into the new digital economy.

We understand that we need to rely on traditional infrastructure and traditional services to smooth the transition of people into the new economy. UX is everything, and it's our core driver. We also know that every jurisdiction in LATAM has it's own playbook, and the value proposition has to shift to serve the biggest pain points. That's why we created a modular and very flexible service that can leverage on local providers, local infrastructure and local regulatory frameworks. Finally we believe BlockChain and descentralized finances are the future, and they are the perfect complement for the supply of solutions, development, and wealth generation that traditional economy on it's own has not been able to properly cover/serve in the region.

Finance

Wallet:
Digital assets exchange
Brokerage of services
Credit/Debit Card processing
Crypto Float management
FIAT Float management

E-commerce:
Stores Management fee
Events management fee

Money will be spent on

Expansion:
Growth Marketing
Cross-selling of products

B2c Channels:
Digital Marketing: GooglePlay, AppleStore, Adwords, Facebook/Instagram.
Brand awareness: Webinars, influencers in the industry (Ecommerce, Economy, Crypto, Lifesyle, etc), PR in local news, Blogs, etc.
Referral system and Gift Cards.
Merchandising: QR codes, flyers, Face-mask for Covid, etc

B2b Channels:
Face 2 face sales.
Telemarketing
Digital Marketing Lead generation: Facebook/Instagram
Digital Marketing for merchants installs: GooglePlay, AppleStore, Adwords, Facebook/Instagram.
Brand awareness: Webinars, PR in local news, Blogs, etc.
Merchandising: QR codes, flyers, Face-mask for Covid, etc.
Partnerships with chambers of commerce, Organizations, NGOs, Retail Chains, etc.


We aim to acquire 60.000 merchants during 2021 to process their payments with us, and to have the biggest merchant network created by a crypto company by 2022.

Development:
Release of new revenue generating features, mainly DEFI services
Release our Token LEM, for instant in-situ money swap

Offer for investor

Valuation: 20M, we offer up to 10% equity for the 2M investment round

Team or Management

Won the competition and other awards

Ethereum Hackaton winner 2018
AHK Fintech award 2018
Selected for Startup Chile G24

Invention/Patent

All our Code and branding has been properly registered

Photos

Photo 1 - We take Commerce and finances into the new digital economy.

Product Video

5,00
1
2
3
4
5
1 voice
Sign in/Sign up
arrow_back
EN
more_horiz
close
visibility42
star0
Add to favorites
Delete from favorites
share
close
thumb_up3
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video