THE FOLD ADVISES LIMEPAY ON ITS JOINT VENTURE WITH DOMAIN GROUP.
Published on Jan 18, 2021
Limepay is Australia’s first enterprise payments fintech to launch a merchant-branded platform that seamlessly integrates online payments and buy now, pay later (BNPL) functionality to provide a native and frictionless customer experience. Unlike third-party services like Afterpay, Limepay enables merchants to regain ownership of their customer relationships and control over fees, with a customer experience that increases conversion rates and lifetime value.
The Fold advised Limepay on its recent joint venture with Australia’s leading property marketplace, Domain (ASX:DHG).
Limepay is joining with Domain to create the venture “MarketNow Payments Pty Ltd” to offer real estate agents and their vendors the ability to finance property marketing costs using a pay later option. The Fold advised on all aspects of the regulatory requirements for the design of the BNPL product offering and acted for Limepay on the joint venture. This venture represents Limepay’s first major initiative in the real estate industry.
Charmian Holmes said, “Having advised Limepay on their recent pre-IPO capital raising, we are delighted to have been able to also support them on this critical deal in their growth trajectory”.
Tim Dwyer, Limepay co-founder and CEO said, “The Limepay platform was built to create a superior and bespoke white-label payments and BNPL solution for all merchants. This native approach has made it quite straightforward to cross over from a retail application to a real estate application. We find it telling that an industry leader like Domain has chosen to bypass third-party BNPL offerings, and decided to use its payments and BNPL offering as a form of competitive advantage. The work that the team at The Fold did during to help us create this venture was absolutely exceptional and helped us achieve and exceed our goals. The speed with which they’ve moved has been crucial to us as a rapidly scaling and agile startup.”
Limepay (www.limepay.com.au) is Australia’s first enterprise payments fintech to launch a merchant-branded platform that seamlessly integrates online payments and buy now, pay later (BNPL) functionality to provide a native and frictionless customer experience. Unlike third-party BNPL services, Limepay enables merchants to retain ownership of their customer relationships and data, coupled with a checkout experience that increases conversion rates and lifetime customer value.
Limepay’s investors, board, advisory and leadership team include current and former C-suite executives from Zip Co, PayPal, Accor, Deputy, Telstra, CBA, Google, Equifax, and PwC. It has already built native integrations with Adobe’s Magento and WooCommerce platforms and has millions of dollars transacting through its pipes.