• 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

HBAR Price Experiences Significant Drop Despite Institutional Developments

chest

HBAR price drops by 24% despite institutional developments and increased trading volumes.

user avatarTomas Novak

Rising Bitcoin Liveliness Indicates Mature Bull Market

chest

Bitcoin's liveliness indicator is on the rise, suggesting a continued bull market as long-term holders redistribute their assets.

user avatarKaterina Papadopoulou

Japan's Frustration with US Over Taiwan Tensions

chest

Japan expresses frustration with the US over its silence on escalating tensions with China regarding Taiwan, highlighting geopolitical strains.

user avatarLeo van der Veen

Unverified Surge in Web3 Employment on DeJob

chest

DeJob, a Chinese Web3-focused job platform, has reportedly seen a rise in job seekers, indicating a notable shift in interest towards Web3 employment. However, this surge remains unverified as there are no official announcements or primary sources confirming this significant increase.

user avatarAisha Farooq

Industrywide Increase in Web3 Hiring Rates

chest

There is a notable increase in Web3-related hiring across the industry, driven by demand for specialized roles in smart contracts and compliance.

user avatarLi Weicheng

Unverified Claims of ChatGPT's Crypto Picks Cause Controversy

chest

Recent reports allege that ChatGPT has selected AVAX and SOL for significant growth by 2025, but OpenAI has not confirmed these claims.

user avatarTenzin Dorje

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.