LemFi, a remittance-focused fintech, has raised $53 million in Series B funding to expand its operations into Europe. The investment will help strengthen its global payment network, introduce localized services, and support talent acquisition. LemFi processes $1 billion monthly and serves customers in 22 countries.
LemFi, a rising star in the fintech industry specializing in remittance services, has raised $53 million in its Series B funding round to accelerate its expansion into Europe. The latest investment, led by Highland Europe, is part of LemFi’s strategy to enhance its global payment network and introduce hyper-localized services across new markets.
The company plans to leverage this funding to begin operations in Europe, having recently acquired a license in Ireland. LemFi aims to strengthen its global footprint through strategic partnerships, focusing on delivering tailored services for its diverse customer base. Additionally, the funds will be used to recruit more talent, expanding its workforce of over 300 employees worldwide.
LemFi has already made significant strides in the remittance market, processing a remarkable $1 billion in monthly transactions. This is a sharp increase from the $2 billion annually processed in 2023. The company is particularly popular among African immigrants and has expanded into key remittance markets, including the U.S., China, India, and Pakistan.
Future plans include rolling out customer cards in the U.S., U.K., and Canada, as well as localizing offerings to meet the unique needs of users in various regions. With this new funding and growing presence, LemFi is set to redefine the remittance experience, making cross-border payments faster, cheaper, and more accessible for people worldwide.
