LONDON — Fintech application LemFi will secure an additional €30 million in a Series B funding extension to support its ongoing international expansion, according to a report published by Tech Funding News on Tuesday. The company provides specialized digital financial services tailored specifically to immigrant communities and global citizens operating across multiple international jurisdictions, building on a platform founded to bridge gaps in traditional banking.
The upcoming capital injection directly follows a €53 million Series B financing round that LemFi successfully closed in January 2025. Prominent venture capital firm Highland Europe led that previous investment round alongside formal participation from Left Lane Capital, Palm Drive Capital, Endeavor Catalyst, and startup accelerator Y Combinator, providing the initial financial backing required for rapid customer acquisition in competitive markets.
The company was originally established in 2021 by co-founders Ridwan Olalere and Rian Cochran following their previous professional tenure together at OPay. LemFi now reports a total active user base exceeding two million customers distributed across the United States, the United Kingdom, and Canada, successfully facilitating secure money transfers to more than 30 distinct national markets globally.
LemFi officially surpassed $1 billion in total monthly transaction volume earlier this year, achieving a rapid 30 percent month-on-month growth rate, the company said in a public statement. That commercial expansion positions the fast-growing fintech firm in direct competition with established international remittance operators such as Taptap Send, WorldRemit, and Remitly, all while expanding beyond standard money transfer services.
To broaden its product offerings beyond traditional remittances, LemFi recently acquired currency exchange service Bureau Buttercrane and British credit fintech Pillar, securing formal regulatory approval from the central bank in Ireland. Those strategic corporate acquisitions enable the company to provide essential financial access to immigrants who lack a local credit history, reinforcing its market stance while managing transaction volumes that surpassed $1 billion monthly across 30 markets.
