Sydney payments fintech Limepay raises $21 million ahead of its IPO

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payments fintech | iTMunch

Limepay, an Australian buy now, pay later fintech has banked $21 million ahead of its scheduled initial public offering for mid-2021. The investors that contributed to the funding include current backers along with a few institutional and high net worth investors. The payments fintech says it is anticipating raising additional institutional funding in the early months of the next year. 

Limepay’s lead manager is Ord Minnett and is supported by Prime Financial as its financial and corporate advisor. Since its seed funding round in December 2019, the BNPL fintech has raised about $30 million to grow its platform.

Limepay on raising pre-IPO funding

Tim Dwyer, Founder and CEO of Limepay says his entire team is extremely pleased with the successful IPO raise and thanks the existing and new investors for contributing to the funding round. They believe the strong interest and support received from investors is a clear testament to the differentiated offerings of Limepay, Dwyer adds. 

The company’s unified checkout solution along with the white-labelled BNPL facility for merchants is finely positioned to become a transformative and leading innovation in the fintech and digital payments market, he further adds. Limepay CEO claims that this pre-IPO funding round is one of the biggest fintech pre-IPOs closed in the Aussie market. 

The Aussie fintech has several new institutional investors that are still analyzing the opportunity of investing. The company is trying, as it always does, to take a measured and strategic approach to this raising in seeking out the best outcomes for its investors as they get closer to the IPO. The company is appreciative of all its investors who’ve shown support as it strives to become one of the leading BNPL and enterprise payments companies.

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Limepay – An Aussie payments fintech

Founded in 2016 in Sydney, Limepay has been established by leaders that behold experience of working in big tech companies like Google, Paypal and Equifax. It is an enterprise payments firm that integrates online payments with BNPL functionality to offer a native customer experience. Unlike other third-party buy now pay later services, Limepay allows merchants to possess ownership of their customer data and relationships.

The fintech firm has recently made a number of high profile appointments for executive roles. Claire Alexander, former Zip Co Global Head of Talent Acquisition & Organization Design – Growth will be joining Limepay later in December this year as Head of People and Culture. XE.com CEO, Mark Ledsham (who is presently based in London) will come back to Sydney to step into the role of CFO at Limepay by January 2021. CEO of MediaCom Australia, Willie Pang has been appointed to Limepay board and will be taking up an independent Non-Executive Director role.

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