While UK businesses are busy contemplating the loss of their passporting role in Europe, other groups have been rapidly assimilating new business across a number of different channels in the EU. French payment institution Lemon Way is one such entity, successfully passporting a financial agreement to 28 countries EU countries, according to a recent Lemon Way statement.
Lemon Way is a payment solutions provider that offers a number of managed services for European clients – presently the group operates in twenty countries throughout the continent. This sentiment was echoed by Damien Guermonprez, CEO of Lemon Way, in a recent statement on the growth: “We owe everything to Europe and to our European passport. Without it, we would not have gone so fast. Our funding comes from the European Union and our new recruits as well.”
The Best PSPs for Forex Brokers in One UTIP App Go to article >>
Indeed, Lemon Way’s disruptive technology has caught fire throughout Europe, as alternative and digital payments solutions have become all the rage in recent years. A total of 347 new partners were signed during H1 2016 alone, which now brings the total number of partners to 515. This was accomplished mainly through crowdfunding sites such as Lendix or other marketplaces.
Moreover, Lemon Way has also been active in its personnel front, opening three additional offices in Berlin, Milan, and Barcelona respectively. The group has also made some marquee hires, including Kimberly Ryan as its head of sales for the UK, which had previously been a source of expansion.
However, the recent fallout from the Brexit referendum and likelihood that the UK is on a path out of Europe has rewritten the playing field. “London will no longer be the gateway to the European single market and we already welcome requests from customers who were using British payment institutions” reiterated Sébastien Burlet, president and founder of Lemon Way.