LemFi, a fintech app designed for immigrants and global citizens, is raising an €30 million for its Series B, according to a source who spoke with Tech Funding News.
A source familiar with the deal tells TFN that this funding adds to the $53 million Series B LemFi closed in January 2025, which was led by Highland Europe and included Left Lane Capital, Palm Drive Capital, Endeavor Catalyst, and Y Combinator.
Ridwan Olalere and Rian Cochran, who had worked together at OPay, founded LemFi in 2021 to fill the gap in financial services for immigrants. The company now has more than two million customers in the US, UK, and Canada and helps send money to over 30 markets, according to previous press statements.
Earlier this year, the company passed $1 billion in monthly transactions and saw 30% month-on-month growth in activity, according to previous statements. These results back its plan to grow beyond remittances and stay ahead of competitors, including Taptap Send, WorldRemit, and Remitly.
The startup has also been growing through acquisitions, including the purchase of currency exchange Bureau Buttercrane, which gave it regulatory approval from Ireland’s central bank, and British credit fintech Pillar. The latter involves a Financial Conduct Authority credit licence and the ability to assess immigrants without local financial history, addressing a key problem in credit access.
