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LemFi moves remittances further into Asia and Europe with $53M in new funding
For many emerging market economies, remittances have become a lifeline. Inflows surpassed $669 billion in 2023, according to World Bank research, and they
The four-year-old fintech boasts over one million active users who rely on its multi-currency accounts to transfer money to friends and family in countries like Nigeria, Kenya, India, China, Pakistan, and 15 others. We’ve managed to keep our fraud rate extremely low, allowing us to offer customers the best possible prices,” LemFi co-founder and CEO Ridwan Olalere told TechCrunch in an interview. LemFi will use the funding to extend its offerings, scale its payment network licenses and partnerships to provide hyper-localized service, and recruit talent for its next growth phase.
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