Sidekick helps LemonEdge secure $2.5m in funding; will target new talent
London-based fintech LemonEdge (formerly LemonTree Software), has secured funding of $2.5 million in a fundraising round led by Sidekick Partners, a venture firm with deep ties to the North American private equity industry.
Sidekick Partners is joined in this round by investors Tikhon Bernstam, founder of Parse and Scribd, and Lauren Iaslovits, founder of Investran and a pioneer of private capital market technologies.
LemonEdge enables firms in the private equity and financial services industries to digitise complex accounting, many of whom still run on old, ‘insecure’ legacy systems or spreadsheets. The Global Financial Services Application Software Market is worth $144bn and expected to grow by 8% by 2025.
LemonEdge founders Gareth Hewitt (CEO) and Jamie Nascimento (CCO) draw on 20 years of financial, business & marketing experience each. They will use the funding to recruit top talent for development, implementation, and sales in the company’s London and New York offices.
Hewitt, Co-Founder and CEO of LemonEdge, said: “We are pleased to have completed a highly successful funding round, and to have the support of such well-renowned investors. For more than 20 years, I’ve seen an astonishing amount of financial data inside legacy applications or spreadsheets that do not communicate and that are insecure. LemonEdge’s low-code platform delivers the next generation of private equity performance and accounting software, without dependence on workarounds. LemonEdge is 10x faster to develop and deploy, and it is scalable, adaptable, and secure.”
Nascimento, Co-Founder and CCO of LemonEdge, added: “We drive informed decision-making with the future of tailored and complete accounting solutions. Our product is best-in-class, and we are focused on building the best possible team to help grow LemonEdge. Our customers are the next generation of financial services professionals who have grown up in an ever-smarter and more connected world – they expect solutions which not only match their needs, but empower their capabilities.”
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