LemFi lands $53m Series B to tap new markets
LemFi, a US-based fintech start-up specialising in financial services for immigrants, has secured $53 million in a Series B funding round led by venture capital firm Highland Europe.

LemFi bags $53 million Series B
The round, which received additional backing from existing investors Left Lane Capital, Palm Drive Capital and Y Combinator, brings LemFi’s total capital raised to $86 million, following a $33 million Series A in August 2023.
Founded in 2021, LemFi offers a range of international payment services, including multi-currency global accounts, physical and virtual cards, and cross-border money transfers to over 22 countries across Africa, Asia and Europe.
The company boasts “over one million users across Europe and North America sending money to emerging markets” such as Kenya, Senegal, Cameroon, India and Pakistan.
LemFi claims to have recently surpassed $1 billion in monthly transaction volume and reports a 30% month-on-month growth in platform activity.
Headquartered in Oakland, California, LemFi will use its new funding to expand its platform and hire new staff.
Co-founder and CEO Ridwan Olalere states: “This new funding will support us in our mission to build the financial services hub for immigrants globally from adding new features to expanding to new countries.”