Lemon Cash
22 known investors
Lemon is a digital wallet app offering daily yields on peso and dollar balances, a Visa prepaid and credit card with cashback in Bitcoin, cross-border transfers across Latin American countries, and investing in Bitcoin and over 10,000 stocks such as Apple, Tesla, and Nvidia. It serves retail consumers, with support for payments via QR in Argentina and Brazil.
Also known as Bay Treasure Caramel S.A. · Lemon · Lemon Cash Inc.
Investors · 22
Also in the syndicate · 5
Funding
SEC filings, press & company announcements- Undisclosed amountSeries BOct 2025
F-Prime (lead), ParaFi (lead), Alumni Ventures, DRW Venture Capital, Endeavor Catalyst, Lambda Class, Persea VC, Stani Kulechov, Van Eck VC
Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Lemon (Lemon Cash Inc., app "Lemon Cash: Crypto & Dolares") is an Argentina-founded digital wallet and crypto-fintech serving retail users in Latin America. The app lets users hold and move pesos and digital dollars, activate daily yields on peso and digital-dollar balances, buy and sell Bitcoin and other crypto, deposit and send crypto around the clock, and receive pesos, dollars or euros from banks, wallets and international platforms such as PayPal, Wise, Airbnb, Payoneer and Deel. Free instant transfers are available to more than seven countries in the region, and users can send funds to other Lemon users via a "$lemontag" handle.
Payments products include an international prepaid Visa card and a Visa credit card, QR payments in Argentina and Brazil, and bill payments; purchases generate cashback in Bitcoin or tickets for prizes. Investing in listed equities is offered through Quaestus Advisory S.A., an Argentine registered agent, restricted to Lemon users, with US securities clearing and custody by Alpaca Securities LLC.
The company's site discloses regulated entity structure in Argentina (Bay Treasure Caramel S.A., CNV PSAV registry No. 162) and warns that digital-dollar yields come from placing USDt in DeFi protocols at variable, non-guaranteed rates with risk of loss. The Google Play developer listing gives a US address in Wilmington, Delaware; a secondary-market data page lists the legal name as Lemon Cash Inc. with headquarters in Buenos Aires.
Business model
Lemon operates a consumer-facing mobile financial app combining a payment/crypto wallet with a Visa card and investment access. Users hold peso and digital-dollar (USDt) balances that can earn daily yields, pay by QR or card, transfer money domestically and internationally, and buy Bitcoin and other assets. Card and QR spending returns cashback in Bitcoin or raffle tickets. Regulated activities are carried out through named legal entities and partners: Bay Treasure Caramel S.A. is registered as virtual asset service provider No. 162 with Argentina's Comisión Nacional de Valores; Digifin S.A. handles payment accounts and is explicitly not a financial institution; securities investing is offered through Quaestus Advisory S.A. (AAGI No. 1098/CNV) with US clearing and custody by Alpaca Securities LLC (FINRA/SIPC).
Traction
Company website claims more than 4 million validated users, more than 2 million Visa cards issued and US$9.3 billion processed; the Google Play listing reports 5M+ downloads, about 45,400 reviews and a 3.1 rating, and states more than 4 million users across Latin America. Press coverage of the October 2025 Series B reported 5 million users.
Latest developments
In October 2025 Lemon announced a $20M Series B co-led by F-Prime and ParaFi, with Endeavor Catalyst, DRW Venture Capital, Alumni Ventures, Van Eck VC, Persea VC, Lambda Class and investor Stani Kulechov participating; proceeds were earmarked for consolidating its Colombian presence and launching the Lemon Cash app and VISA Lemon Card there. The company website currently advertises more than 4 million validated users, more than 2 million Visa cards issued and US$9.3 billion processed; the Google Play listing was updated 2026-08-18.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
A Latin American crypto-enabled digital wallet competing with regional players such as Bitso and Ripio; classified by one secondary-market data provider under the Crypto & Blockchain sector. Reported scale is 5 million users as of the October 2025 Series B.
Lemon positions itself as more than a wallet, bundling daily yield on peso and digital-dollar balances, Bitcoin cashback on Visa and QR spending, free cross-border transfers within Latin America, and access to US-listed equities in a single consumer app, with published transparency and proof-of-reserves sections and an Argentine VASP registration.
Technology
Mobile app supporting multiple blockchain deposit networks, custody and movement of crypto assets, USDt balances routed into DeFi protocols to generate daily yields, QR payment acceptance, Visa card issuance, and US equity execution/custody via Alpaca Securities. The website cites throughput of more than seven transactions per second and publishes a status page and proof-of-reserves.
Go-to-market
Direct-to-consumer distribution through iOS/Android app downloads, with the Google Play listing showing 5M+ downloads. Growth is tied to market-by-market launches of the app and Visa card, including a planned Colombian launch aligned with the Bre-B instant payments network. The site also promotes a P2P plan, a media kit and press resources.
Retail consumers in Latin America, including users seeking dollar-denominated savings, cross-border payment recipients (e.g., freelancers paid via PayPal, Wise, Payoneer or Deel) and everyday card/QR payers.
Geography
Argentina is the core market (the website defaults to an ARG country selector, QR payments in Argentina and Brazil, Argentine regulatory registrations). Since its Series A the company has expanded into Brazil, Peru, Uruguay, Colombia and Mexico, and advertises free transfers to more than seven countries in the region. A secondary-market listing gives Buenos Aires as headquarters, while the Google Play developer record lists a Wilmington, Delaware address for Lemon Cash Inc.
History
Public sources here document a $16.3M Series A (referenced retrospectively) followed by a $20M Series B announced in October 2025. Between those rounds the company expanded from Argentina into Brazil, Peru, Uruguay, Colombia and Mexico and reported reaching 5 million users. In Colombia it began with a pilot crypto service and planned a full launch of the Lemon Cash app and VISA Lemon Card in connection with the country's Bre-B instant payments network.
Risks & controversies
The company's own disclosures state that funds in payment accounts are not deposits and are not covered by Argentina's financial institutions law guarantee, that digital-dollar yields involve placing USDt in DeFi protocols at variable, non-guaranteed rates with possible loss of principal, and that investments in financial instruments may result in loss of capital. The Google Play listing shows a 3.1-star average across roughly 45,000 reviews, with user complaints including mandatory biometric login and QR payment failures with a Peruvian acquirer.
Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsFollowing its $20M Series B, Lemon said it would consolidate its presence in Colombia, where it operated a pilot crypto service, by launching the Lemon Cash app and the VISA Lemon Card, citing the rollout of Bre-B, Colombia's instant payments network.
Reported at the time of the Series B: since its $16.3M Series A, Lemon expanded into Brazil, Peru, Uruguay, Colombia and Mexico.
Argentine crypto/fintech startup Lemon raised a $20M Series B co-led by F-Prime and ParaFi, with participation from Endeavor Catalyst, DRW Venture Capital, Alumni Ventures, Van Eck VC, Persea VC, Lambda Class and Stani Kulechov.
$20M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 5
primary sources listed
- Lemon Cashlemon.me · web
5 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Lemon Cash do?
- Argentine digital wallet offering yields on peso and dollar balances, a Visa card with Bitcoin cashback, transfers and investing.
- Who are Lemon Cash's investors?
- Lemon Cash's investors include Abstract Ventures, AIR Capital, Borderless Venture, Cats.vc, Coinbase Ventures, Mirana Ventures, ParaFi Capital, Propel Venture Partners and 9 more.