LemFi banked €30M in a Series B extension to increase its reach across the global remittance market. The London-based fintech focuses on providing financial services for immigrant communities, specifically targeting corridors that are often underserved by traditional banking institutions.
The platform enables users to send and receive money internationally with zero transaction fees and competitive exchange rates. Beyond simple transfers, LemFi provides multi-currency accounts that allow customers to hold, manage, and exchange various currencies, facilitating easier financial management for those living and working abroad.
This latest injection of capital follows a period of expansion where the firm secured licenses to operate in several new markets. The company’s infrastructure is designed to bypass the high costs typically associated with cross-border payments by building direct integrations and local payment rails.
The round reinforces a consistent trend in European fintech where specialised vertical players are capturing market share from legacy providers by solving the specific regulatory and liquidity hurdles of emerging market corridors.
Originally reported by Tech Funding News.