Lemon, a Manchester, UK-based fintech company that provides subscription management for SMBs, has raised £500,000 in pre-seed funding.
Investors
The funding round was led by SFC Capital and Pitchdrive, with participation from angel investors Nick Dodd, former Partner of Debt Advisory at KPMG, and Kimberley Waldron, Co-Founder of fintech communications agency SkyParlour.
Founded in 2012, SFC Capital is a venture capital firm based in London, United Kingdom. The firm seeks to invest in seed-stage, early-stage, late-stage, and growth-stage companies in any sector.
Pitchdrive is a venture capital investment firm that prefers to invest in business-to-business (B2B) software-as-a-service (SaaS), marketplaces, e-commerce, and software-driven hardware sectors. It was founded in 2018 and is based in Antwerp, Belgium.
Lemon Use of Funds
The company plans to utilize the funds primarily for product development and expansion. The company aims to enhance its platform to better serve small and medium-sized businesses (SMBs) in managing their SaaS subscriptions.
About Lemon
Lemon is a fintech company that offers a software subscription tracking and financing platform tailored for digital, service-based SMBs. The company's platform is designed to assist SMBs in discovering, financing, and managing their SaaS subscriptions. Lemon empowers SMBs to consolidate their subscriptions in one place, identify overspending, gain insights into company-wide SaaS usage, and optimize business costs. The platform caters specifically to SMBs dependent on software subscriptions for essential business functions, including HR, marketing, and accounting programs.
Funding Details
Company: Lemon Financial Technologies Ltd
Raised: £500K
Round: Pre-Seed Round
Funding Month: April 2024
Lead Investors: SFC Capital, Pitchdrive
Additional Investors: Nick Dodd, Kimberley Waldron
Company Website: https://spendlemon.com/
Software Category: Subscription Management
Source: https://ffnews.com/newsarticle/funding/lemon-raises-500k-in-pre-seed-funding-round-to-enable-smbs-to-save-thousands-on-saas-spending/