Transaction

Plug and Play Ventures invests in Lemonade Payments

Announced

30 June 2026

Target

Lemonade Payments Inc.

Value

Undisclosed

Asset class

Venture Capital

Type

Investment

Instrument

Ordinary Shares (Equity)

Lead investors

Plug and Play Ventures

Investors

Plug and Play Ventures

Sector

Financial services / Payments Infrastructure, B2B Payments, Cross-Border Payments

Markets

Rwanda, Tanzania, Kenya, Uganda

About the target

Lemonade Payments Inc. (Lemonade) is a US-incorporated fintech company specialising in payment processing solutions for businesses and consumers across Eastern Africa. Incorporated in Delaware and operationally headquartered in Nairobi, Kenya, the company provides payment collection (PayIn), money transfers, bill payments, and Banking-as-a-Service through a single API integration. Lemonade's platform supports mobile money (M-PESA, Airtel Money, T-Kash), bank transfers, card payments, and virtual accounts across up to 40 currencies. The company differentiates on a privacy-first design that enables transactions without exposing users' personal details. Lemonade operates in Kenya, Uganda, Tanzania, and Rwanda, with over 1,000 SMEs and 500,000+ users on the platform. Payment services are facilitated through officially licensed banks regulated by the Central Bank of Kenya.