LemFi, a fintech company that helps immigrants with international payments, has raised USD 33 million in a Series A funding round that was co-led by Left Lane Capital. For LemFi, formerly known as Lemon Finance, the following investors joined the round: Y-Combinator, Zrosk, Global Founders Capital, and Olive Tree.
LemFi was established by Ridwan Olalere and Rian Cochran to make it simple and affordable to send money to Kenya, Ghana, and Nigeria. The two men met while developing the African fintech OPay. The next year, it expanded to the UK and increased its reach by opening up ten new remittance corridors to Africa.
Additionally, LemFi guarantees fee-free transfers and account maintenance while offering the best exchange rates and instant international transfers.