• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

LemFi Expands Money Transfer Services to Asia and Europe

user avatar

by Giorgi Kostiuk

a year ago

LemFi, a leading financial technology platform, has secured $53 million to expand its services into Asia and Europe.

LemFi's Financial Platform and Growth

Since its emergence in 2020, LemFi has shown steady growth by assisting diaspora communities in North America and Europe to send money to Africa, Asia, and Latin America. With over 1 million active users, the company employs multi-currency accounts for transfers to countries like Nigeria, Kenya, India, China, and Pakistan.

Fraud Detection Measures

LemFi has gained recognition for its strong fraud detection capabilities. CEO Ridwan Olalere states that the company endeavors to minimize fraud rates to offer the best prices to its customers.

Fraud can significantly drive up costs. Higher costs often mean passing them on to customers through additional fees. We’ve managed to keep our fraud rate extremely low, allowing us to offer customers the best possible prices.Ridwan Olalere

New Achievements and Future Plans

In 2023, LemFi recorded over $2 billion in annual transaction volume. The new funding will enable the company to broaden its offerings into new markets and fortify partnerships. LemFi aims to focus on Europe this year.

The recent funding will allow LemFi to solidify its position in the global remittance market, especially focusing on countries with significant immigrant populations.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Haseeb Qureshi Defends Ethereum Valuation Against Critics

chest

Haseeb Qureshi defends Ethereum's valuation, arguing that critics use the wrong financial framework and should treat fee revenue as profit.

user avatarFilippo Romano

Google Elevates Amin Vahdat to Lead AI Infrastructure Strategy

chest

Google has promoted Amin Vahdat to Chief Technologist for AI Infrastructure, highlighting its commitment to AI and the importance of hardware in the AI arms race.

user avatarEmily Carter

Congress Advances Clarity Act Amid Market Anticipation

chest

Congress is working through an important stage of its oversight agenda, with the Senate Banking Committee finalizing draft market structure legislation.

user avatarKaterina Papadopoulou

Market Analyst Predicts XRP Surge Ahead of Clarity Act

chest

Market analyst Zach Rector predicts that XRP's significant price movement will occur before the Clarity Act is formally passed, as the market typically responds to expectations rather than final approvals.

user avatarTomas Novak

State Attorneys General Warn AI Giants Over Dangerous Chatbot Outputs

chest

A coalition of state attorneys general has issued a warning to leading AI companies, including Microsoft, OpenAI, and Google, demanding they address dangerous delusional outputs from their chatbots.

user avatarMaya Lundqvist

AI Regulation Conflict: State vs. Federal Authorities

chest

The warning from state attorneys general highlights a growing conflict between state and federal approaches to AI regulation.

user avatarLeo van der Veen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.