LemFi Accelerates Global Reach with Visa Partnership

LemFi Accelerates Global Reach with Visa Partnership

By Staff Writer, 25 March 2024

LemFi, a dynamic fintech startup hailing from Nigeria, has announced a significant milestone in its journey towards global expansion.

The company has inked a groundbreaking deal with Visa’s Cross-Border Solutions division, aiming to venture into new international markets, including China, India, and Pakistan.

This strategic collaboration sees Visa Cross-Border Solutions facilitating LemFi’s cross-border transactions, marking a pivotal step in its expansion strategy.

With a burgeoning user base exceeding 250,000 across the UK and EMEA regions, LemFi is poised to offer Visa debit and pre-paid debit cards to its users through this new partnership.

Leveraging Visa’s Cross-Border Solutions, LemFi solidifies its position as the preferred provider of e-payment solutions and foreign exchange services for its diverse clientele.

Moreover, LemFi remains steadfast in its mission to support the seamless remittance of funds for hundreds of thousands of UK-based citizens hailing from various African countries.

This commitment underscores the company’s dedication to facilitating financial inclusivity and accessibility on a global scale.

Founded in 2020 by Ridwan Olalere, LemFi, formerly known as Lemonade Finance, has been at the forefront of revolutionizing financial services for immigrants.

Its innovative multi-currency account empowers users to effortlessly manage, transfer, and receive funds in both their home country's and host country's currencies.

With the capability to send money to over 30 countries, LemFi has swiftly emerged as a trusted financial partner for its growing user base.

Commenting on the partnership, Ridwan Olalere emphasized the significance of Visa’s involvement in driving LemFi’s global expansion.

He highlighted Visa’s unparalleled speed-to-market, transparency, and scalability as instrumental factors that will fuel LemFi’s international growth trajectory in the months and years ahead.

This strategic collaboration underscores LemFi’s commitment to leveraging cutting-edge technology and expertise to redefine the landscape of global financial services.

Source: Abdullah Ajibade / TechPoint Africa

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