Deutsche WertpapierService Bank (dwpbank) has announced its acquisition of lemon.markets, a brokerage-as-a-service platform based in Berlin.
Founded in 2020, lemon.markets specializes in providing digital brokerage and custody infrastructure, empowering companies to deliver investment products. In the previous year, it received an investment firm license from the German financial regulator BaFin, which allows it to engage in various activities including contract broking, investment advice, financial portfolio management, financial commission business, proprietary trading, and custodial services.
The company recently completed a €12 million funding round led by CommerzVentures, raising its total funding to €28 million.
As a result of this acquisition, lemon.markets will operate under dwpbank, a well-established provider of securities services, implementing a dual-brand strategy while collaborating on platform development.
Dwpbank anticipates that clients will benefit from a broader and more competitive service portfolio, which will range from full custody to flexible digital Brokerage-as-a-Service offerings tailored to their specific needs.
Max Linden, CEO of lemon.markets, remarked, “Both organizations share a common goal of making capital market investments more accessible, providing a solid foundation for our collaboration. Our technological expertise signals strength to both current and prospective partners and clients.”
Kristina Lindenbaum, board member responsible for client and digital transformation at dwpbank, stated, “With the innovative offerings from lemon.markets, we can now provide banks, fintechs, and asset managers with a unique blend of expertise, stability, and innovation in the securities space.”