Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Coinbase and Google team up to facilitate transactions using stablecoins.

September 18, 2025

Revamping the Client Challenge Title

September 18, 2025

Transforming Cross-Border Payments in Nigeria

September 18, 2025

Aleph secures 29 million dollars in Series B funding to guide and enhance its initiatives.

September 18, 2025
Facebook X (Twitter) Instagram
Trending
  • Coinbase and Google team up to facilitate transactions using stablecoins.
  • Revamping the Client Challenge Title
  • Transforming Cross-Border Payments in Nigeria
  • Aleph secures 29 million dollars in Series B funding to guide and enhance its initiatives.
  • AI financing platform Tabs secures $55 million in Series B funding.
  • Five-dollar local bags in Unleash, Unicorn India’s capital
  • Google introduces a payment protocol for AI agents in collaboration with major financial firms.
  • Rex-Osprey XRP ETF: a transformative period for fintech startups
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    AI-powered fintech job platform Finjobsly.com Launches

    September 16, 2025

    FCCPC recoups 10 billion naira for harmed customers after grievances against banks and fintech companies

    September 11, 2025

    Hyderabad Fintech Viyona secures NPCI approval to function as a third-party application provider.

    September 11, 2025

    Klarna IPO Valuation Analysis in the US Banking Sector

    September 2, 2025

    Robinhood’s IA Investing Tool Digests Launches in the UK

    August 27, 2025
  • AI

    Coinbase and Google team up to facilitate transactions using stablecoins.

    September 18, 2025

    Revamping the Client Challenge Title

    September 18, 2025

    Aleph secures 29 million dollars in Series B funding to guide and enhance its initiatives.

    September 18, 2025

    AI financing platform Tabs secures $55 million in Series B funding.

    September 17, 2025

    Google introduces a payment protocol for AI agents in collaboration with major financial firms.

    September 17, 2025
  • Acquisitions

    Amazon concludes its acquisition of the Indian lender Axio, expanding its fintech efforts.

    September 11, 2025

    The incident involving the Kaustubh Kulkarni movement in Moomoo

    September 3, 2025

    Overview of Acquisitions for US Fintech Companies from the Clifford Chance Guide

    September 2, 2025

    Dentons guides PEAC Solutions in acquiring Fintech Topi

    August 29, 2025

    Truckstop.com purchases the denim division of the transport finish company

    August 24, 2025
  • Trends

    Overview of the Size, Trends, Growth Drivers, and Key Players in India’s Fintech Sector

    September 5, 2025

    SEF – Wits Global Fintech Conference 2025 Investigates Worldwide Fintech Trends

    September 4, 2025

    The impressive results of PB Fintech underscore the contrast with overall market trends.

    September 4, 2025

    South Korea’s Fintech Market Overview, Trends, and Growth Predictions

    August 30, 2025

    Vietnam’s fintech market projected to exceed 50 billion USD by 2030.

    August 21, 2025
  • Insights

    Time for a set of reforms to enhance the fintech sector’s efficiency, inclusivity, and resilience against risks

    September 17, 2025

    A brief overview of the upcoming weekly updates in fintech

    September 12, 2025

    Kapital is the final unicorn in Mexico valued at over $1 billion.

    September 5, 2025

    Canton RestitySteve Forbes and Peter Schiff Headline New Fintech.tv Series Riding Bulls and Taming Bears Led by David Stryzewski New York, NY / Access Newswire / August 25, 2025 / Fintech.tv has unveiled the debut of Bulls and Taming Bears, a series focused on market analysis and…

    August 28, 2025

    Steve Forbes and Peter Schiff Launch New Fintech.tv Series “Conquering Market Fluctuations” by David Stryzewski – Azentral | The Republic of Arizona

    August 28, 2025
  • Rumors

    Pi Network price hits a new all-time low amid delimitation speculation on OKX and Mexc.

    September 11, 2025

    Tether’s Bitcoin Sale for Gold: CEO Paolo Ardoino Shares the Facts

    September 8, 2025

    Buffalo Sabers encouraged to trade former first-round pick Isak Rosen amid challenges

    September 7, 2025

    Wise aims to establish itself as a bank in the UK.

    September 7, 2025

    Is Trump deceased?

    September 6, 2025
  • Startups

    Transforming Cross-Border Payments in Nigeria

    September 18, 2025

    Five-dollar local bags in Unleash, Unicorn India’s capital

    September 17, 2025

    Rex-Osprey XRP ETF: a transformative period for fintech startups

    September 17, 2025

    Overcoming Regulatory Hurdles for Fintech Startups in XRP’s Journey to Independence

    September 17, 2025

    Startup Fintech Pélocaux Secures 5 Minutes of Series A Funding

    September 17, 2025
  • finjobsly
fintechbits
Home » Fintech startup LemFi announces $53 million Series B round
Startup News

Fintech startup LemFi announces $53 million Series B round

3 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
Rian And Ridwan Of Lemfi.png
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Remittance-focused fintech startup LemFi has announced a major $53 million capital raise in a Series B funding round, aimed at facilitating its expansion into Europe.

The round was led by London-based growth-stage investment firm Highland Europe, with participation from existing investors including Endeavor Catalyst, Left Lane Capital, Palm Drive Capital and Y Combinator. This brings LemFi’s total funding to $85 million.

LemFi, which currently serves African immigrants in 22 countries, plans to use this funding to expand its service offerings, improve its payment network licenses and partnerships globally, and provide hyper-localized services.

The expansion into Europe follows a partnership with Modulr and the acquisition of a limited company based in the Republic of Ireland, allowing LemFi to begin independent operations in Europe next month.

The company also aims to invest in talent acquisition to support its rapid growth phase. LemFi currently employs more than 300 people in Europe, North America, Africa and Asia.

More work for founders

Founded in 2019 by Nigerian Ridwan Olalere and European Rian Cochran, LemFi’s recent collaboration allows it to start operations while awaiting its own European license, which is expected to be granted next month.

This expansion will allow LemFi, which generates revenue through transaction fees and foreign exchange spreads, to serve customers in 27 sending markets and facilitate remittances to 20 recipient countries.

After expanding into the United States in 2023, LemFi entered major remittance markets like China, India, and Pakistan in 2024, hiring senior executives from domestic companies like Terrapay, DeliveryHero, and OPay to support this growth.

What you need to know

  • The funding will allow Lemfi to acquire more licenses and partnerships as it expands its offerings to include localized services for customers. Lemfi is set to launch a card for customers in the United States, United Kingdom and Canada. The company will also hire staff as it grows rapidly.
  • Lemfi now processes $1 billion in monthly payment volume, a significant increase from 2023, when it processed $2 billion in annual transaction volume. The startup has also doubled its users, revenue and transactions over the past two years.
  • Olalere attributed this growth to strong adoption in the Asian corridor, which brings in $160 million in monthly TPV and is experiencing 30% monthly growth since its launch last year.

After expanding to the United States in 2023, the startup entered major remittance markets like China, India, and Pakistan in 2024. It entered these markets by poaching top executives from national companies like Terrapay, DeliveryHero and OPay.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Transforming Cross-Border Payments in Nigeria

September 18, 2025

Five-dollar local bags in Unleash, Unicorn India’s capital

September 17, 2025

Rex-Osprey XRP ETF: a transformative period for fintech startups

September 17, 2025
Leave A Reply Cancel Reply

Latest news

Coinbase and Google team up to facilitate transactions using stablecoins.

September 18, 2025

Revamping the Client Challenge Title

September 18, 2025

Transforming Cross-Border Payments in Nigeria

September 18, 2025
News
  • AI in Finance (1,625)
  • Breaking News (169)
  • Corporate Acquisitions (71)
  • Industry Trends (200)
  • Jobs Market News (307)
  • Market Insights (210)
  • Market Rumors (274)
  • Regulatory Updates (166)
  • Startup News (1,060)
  • Technology Innovations (174)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,625)
  • Breaking News (169)
  • Corporate Acquisitions (71)
  • Industry Trends (200)
  • Jobs Market News (307)
  • Market Insights (210)
  • Market Rumors (274)
  • Regulatory Updates (166)
  • Startup News (1,060)
  • Technology Innovations (174)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.