For many emerging market economies, remittances have become a lifeline. Inflows surpassed $669 billion in 2023, according to World Bank research, and they

TechCrunch

United States

LemFi moves remittances further into Asia and Europe with $53M in new funding

Ad Fontes Media

All Sides

Media Bias/Fact Check

Verizon Communications

The essential tech news of the moment. Technology's news site of record. Not for dummies.

Techmeme

California

LemFi, a financial and payment services platform designed for immigrants that claims to have over 1M active users, raised a $53M Series B led by Highland Europe

Remittances for the first half of the current fiscal year amount to $17.645 billion, whereas exports amount to $16.561 billion

Business Recorder

H1 remittances surpass export earnings

For many emerging market economies, remittances have become a lifeline. Inflows surpassed $669 billion in 2023, according to World Bank research, and they now represent significant portions of GDP in these countries, often outpacing foreign direct investment as the primary source of foreign…

Upstract

LemFi, the trusted financial services platform designed for immigrants, has secured $53M in Series B funding led by Highland Europe

Zawya

LemFi, the platform transforming how immigrant communities’ access financial services, has raised $53 million in Series B funding led by Highland Europe with participation from previous investors, including Left Lane Capital, Palm Drive Capital, Endeavor Catalyst and Y-Combinator.    The new round brings LemFi’s total capital raised to $85 million.   Founded in 2021, LemFi is building the trusted financial services platform for immigrant communi…

Ghana Business News

NewsBridge Africa

Accra Metropolis

Greater Accra Region

Ghana

LemFi secures $53m in Series B funding led by Highland Europe - Ghana Business News

Remittance-focused fintech startup LemFi has announced a significant capital raise of $53 million 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 […] The post Fintech startup LemFi announces $53 million Se…

Nairametrics

Fintech startup LemFi announces $53 million Series B Round

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, s…

citybiz

LemFi Raises $53M Series B

Coming from South Africa but living in Europe, I can tell you that sending money to family and friends back home is a bit of a nightmare. Typically you must use a traditional bank,which can take a week or more, or payment apps like PayPal or Wise, which charge high fees.  The antiquated nature of remittance payments is something that immigrants are all too familiar with. Demand for better alternatives is giving rise to a new cohort of fintech co…

Nikkei Inc.

Amsterdam

Government of Amsterdam

North Holland

Netherlands

Fintech startup LemFi raises $53M to help immigrants send money home

As one of the fastest-growing financial platforms launched in Europe, a new era in digital remittances begins for Lemfi. A zero-cost transfer service that puts convenience and inclusivity first has made it simple for immigrants in Italy, France, and Spain to send money home. LemFi already serves over one million customers across 22 countries and is already operational in the US, UK, and Canada. The service guarantees adherence to global regulati…

LemFi moves remittances further into Asia and Europe with $53M in new funding

Coverage Details

Bias Distribution

Ownership

Similar News Topics

Similar News Topics