Lemfi Raises $33 Million To Transform Financial Services For Immigrants Everywhere

Aug 24, 2023•over 2 years ago

Amount Raised

$33 Million

OaklandFintechFinancial Services

Investors

Lem FiOlive TreeGlobal Founders Capital,ZroskY CombinatorLeft Lane Capital

Description

LemFi, a leading fintech platform transforming financial services for immigrants, has raised a $33 million Series A round led by Left Lane Capital. Other investors included Y-Combinator, Zrosk, Global Founders Capital, and Olive Tree.

Company Information

Company

LemFi

Location

Oakland, California, United States

About

By 2021, the company quickly expanded to the UK, and in parallel, broadened its reach by enabling 10 new African remittance corridors. The IMTO license will enable LemFi to offer its services in partnership with Nigerian banks, empowering users by eliminating the need for intermediaries. "LemFi has been very deliberate and strategic in acquiring licenses and building a robust network of financial institution partners to facilitate cross-border payments for immigrants," said Matthew Miller, Principal at Left Lane Capital, who joined LemFi's Board of Directors as part of the transaction.

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