LemFi, an Oakland, CA-based platform for immigrant communities to access financial services, raised $53m in Series B funding.
The round, which brought LemFi’s total capital raised to $85m to date, was led by Highland Europe with participation from previous investors Left Lane Capital, Palm Drive Capital, Endeavor Catalyst and Y-Combinator.
The company intends to use the funds to build out the platform to extend its financial services offering, scale its payment network licenses and partnerships to provide hyper-localised service, and hire talent globally to support its next growth stage.
Founded in 2021 by Ridwan Olalere (CEO) and Rian Cochran (CFO), LemFi is building a financial services platform for immigrant communities worldwide. Starting with payments and remittances, LemFi enables users to open multi-currency accounts and send and receive money globally, reliably and at a low cost. With over one million users across Europe and North America sending money to emerging markets, including India, Kenya, Nigeria and Pakistan, LemFi recently crossed $1 billion in monthly transactions.
The LemFi team is 300+ people across Africa, Europe and North America.
FinSMEs
14/01/2025