LemonEdge in a $4M funding deal led by Blackstone.

LemonEdge, a London, UK-based software startup developing a low-code accounting platform for the private capital industry, announced securing a $4 million seed funding round.

The money was raised from investors led by the private equity firm Blackstone, with participation from existing investors Sidekick Partners, Lauren Iaslovits (co-founder of Investran) and Tikhon Bernstam (founder of Parse, Scribd and Uncommon Capital).

LemonEdge, founded in 2020 by Gareth Hewitt and Jamie Nascimento, developed a low-code accounting platform for prviate equity firms that automates and digitises their end-to-end complex accounting processes, many of whom rely on older systems or spreadsheets. The company says it uses a purpose-built financial engine alongside a customisable low-code platform with a suite of advanced reporting and scenario tools. The company’s cloud-native technology has been designed to support the unique and varied requirements of the private capital industry at scale and across asset classes.

Prior to this round, LemonEdge raised $2.5 million in the summer of 2021.