lemon.markets
A bank, a neobank or a finance app that wants its customers to buy ETFs, funds and shares can build a securities business of its own or rent one. lemon.markets in Berlin rents it out through one API, under its own BaFin license. Since 2025 the firm belongs to dwpbank, the securities processor of about 1,000 German banks.
Brokerage through a single API
lemon.markets is a brokerage-as-a-service platform that gives partners access to capital markets through a single API. Its infrastructure lets partners add investment products to their own services. The firm was founded in Berlin in 2020 by Max Linden, its CEO, according to dwpbank.
lemon.markets is a BaFin-licensed investment firm under the German Securities Institutions Act (WpIG). Its license covers principal broking, portfolio management, safekeeping and administration, and investment broking. A partner can therefore offer securities to its customers without its own license for these services; the page on brokerage as a service explains the model.
How the API works for a partner
The partner keeps its own app and its own customer. Behind the API, lemon.markets handles clearing, execution, compliance, operations and custody. It offers three operating models, omnibus, BPO and fully disclosed. In dwpbank's description, the infrastructure is cloud based and supports fractional trading and real-time processing for ETFs, shares and funds.
At its launch, according to Finance Magnates, BNP Paribas acted as custodian and processed all transactions, Deutsche Bank handled payments between lemon.markets and end users, and Tradegate gave access to the exchange with trading from 8 a.m. to 10 p.m. The first partner to go live was the financial education app beatvest. lemon.markets names Tomorrow, Holvi, Optio, Pleo and Vivid among its fintech partners.
Part of the dwpbank group
dwpbank bought all shares of lemon.markets and closed the deal on September 30, 2025, after BaFin's approval, as its press release states (in German). dwpbank wanted a neobrokerage solution next to its full-custody service for banks. lemon.markets adds the lean custody account for neobrokers, and dwpbank's WP3 platform serves banks with a global custody account across all asset classes. Both firms keep their own brands and their own management.
dwpbank also runs wpNex, its crypto platform for banks and savings banks. The announcement of the deal names lemon.markets, WP3 and wpNex together as the infrastructure for standardized brokerage and custody services.
Upcoming fintech and digital asset events
Investment & Digital Assets
Payments & Digital Money
What does lemon.markets do?
lemon.markets runs the securities business for other companies through one API, from execution to custody. The partner sells investing under its own brand in its own app.
Who owns lemon.markets?
dwpbank, the Deutsche WertpapierService Bank. lemon.markets has been its wholly owned subsidiary since September 30, 2025 and operates under its own brand.
Is lemon.markets regulated?
Yes. lemon.markets is an investment firm licensed by BaFin under the German Securities Institutions Act, with permissions for principal broking, portfolio management, safekeeping and administration, and investment broking.
Brokerage and securities infrastructure
lemon.markets and Finance Loop
Finance Loop covers brokerage infrastructure and the APIs behind investment apps in its Investment & Digital Assets track. Finance Loop's page on dwpbank, the owner of lemon.markets, describes the securities and crypto services behind German savings banks and cooperative banks.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.