Argentina’s trading base Lemon will expand to Chile, Colombia, Ecuador, Pere and Uruguay. The transaction announced on Tuesday that it had raised $ 16.3 million from investors.
A portion of the money raised will be used to expand access to the website. By the end of 2022, lemonade should be operational across much of South America, CEO Marcelo Cavasoli told CoinDesk. When asked if Lemon also plans to buy competitors, Kawasoli declined to comment.
The accumulated capital comes from various companies and funds. Major investors include Kingsway Capital, Dropper Associates, Valor Capital, Coinbase Ventures and more.
According to Kawasoli, the accumulated amount is enough to expand rapidly until mid-2022. In addition, Lemon also works with a crypto card in conjunction with Visa, which should be available in October. A crypto card allows you to make quick payments, trade and borrow with cryptocurrencies. Although the CEO did not want to release additional data about turnover or active customers, he said there were about 60,000 people on the waiting list for the crypto card.
The business, which now has 35 employees, will double this number in the coming seasons using the remaining capital. Mainly in Argentina, Lemon is looking for a new employee, says the CEO.
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