Solutions Numériques – Special Number: The platform firm, Summer 2017
Founded in 2007 by 5 associates, this French nugget offers payment solutions to PSPs, acquirers, merchants and marketplaces. Directly connected to almost 100 payment methods, Limonetik processes transactions in over 20 countries.
The expansion of e-commerce underpinned the growth of the firm (+140% of transaction volume yearly). To support its growth, Limonetik raised 10 million Euros. Limonetik lies on EBRC (European Business Reliance Center) to host its platform. This innovative payment know-how, leaning on EBRC’s expertise regarding fintechs and security guarantees the efficiency and reliability of the platform.
Interview of Olivier Berthelier, CTO and co-founder of Limonetik
How was Limonetik born?
It all started with one observation: we could use the gift cards and prepaid vouchers we received from our firms on some specific and famous e-commerce websites, but it was impossible to use them more broadly on the Internet. So we tried to find a solution to this problem: making any payment methods available on line. But we might be huge technophiles; we are not good enough marketers to promote our solution, so we quickly moved to BtoB. But since we were better technophiles than marketers, we quickly decided to move to BtoB.
Where do you stand today?
Today, we offer payment services to either online retailers, either to payment actors already in place to answer the specific needs of marketplaces. Limonetik grew quite fast. Last year, we doubled our transaction volume and had a 100% growth of our sales revenue, and we’re going to do better this year! This focus on marketplaces, which enable the linking between buyers and professionals, has a bright future ahead.
Which know-hows are required?
For the payment part, we need to be able to receive the user’s payments, to withdraw the commissions, and to redistribute the funds to the marketplace operator for it to pay out the vendors. This system is quite complicated to set up, especially internationally: we must be able to accept any kind of payment methods – there are many others that banking cards! We worked really hard to provide the payment actors (PSP or acquirers), and merchants with a high added value solution.
Technically, we need an extremely high reliability and ruggedness…
We’re working with EBRC, a Design & Facility Tier IV certified host, well known by the French financial institutions. A must-have: the platform needs to be available 24/7, 365 days a year. The name of EBRC is a guarantee of quality that reassures our clients by showing them that we are hosted in 2 different data centers. EBRC allows us to beneficiate from an on demand offer via its secured Cloud (Trusted Cloud Europe), which is useful in the e-commerce business because we can’t always anticipate the seasonality, the peaks of activity. When we feel that the peak is coming, we’re able to activate manually the virtual machines. We size our platform according to this (EBRC Pay as you go offer). We don’t pay any useless subscription for the rest of the year. Likewise, for the database, we upgrade the hard drive performances according to our needs. That’s a real advantage for Limonetik.
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