Stripe buys US paytech start-up Lemon Squeezy
Lemon Squeezy, a US-based start-up offering a payments platform for software companies, has been acquired by Stripe for an undisclosed sum.
Stripe acquires start-up Lemon Squeezy
The deal marks the 14th acquisition made by Stripe since its inception in 2010, and arrives just over a year since it snapped up engineering analytics start-up Okay.
Founded in 2020 and launched publicly a year later, Lemon Squeezy operates as a merchant of record and offers software companies tools to automate functions like sales tax compliance, payments, subscriptions, billing, licence management, email marketing and fraud prevention, among other things.
The start-up claims to have surpassed $1 million in annual recurring revenue within nine months of its launch and has maintained a partnership with Stripe for payments processing since its inception.
Once the acquisition has been completed, Lemon Squeezy says it will continue to work with its partner to “improve the merchant of record offering, bolstering billing support, building an even more intuitive customer experience, and more”.
The company adds: “We’ll be in touch [with customers] as we work through this process with any updates as they come along. We’re excited about finding the best ways to combine Lemon Squeezy and Stripe.”
Stripe itself has yet to release a statement regarding its plans for its latest acquisition, and did not respond to FinTech Futures‘ request for comment.
