• 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

Sam Bankman-Fried's Request for New Trial Denied

chest

A federal judge has denied Sam Bankman-Fried's request for a new trial, calling his claims baseless. He is serving a 25-year sentence for fraud related to the FTX collapse.

user avatarAndrew Smith

Celsius Founder Alexander Mashinsky Permanently Banned from Crypto

chest

Alexander Mashinsky, the founder of Celsius, has been permanently banned from the crypto industry as part of a $10 million settlement with the Federal Trade Commission (FTC).

user avatarJacob Williams

Key Figures Indicted in Major Cryptocurrency Fraud Case

chest

Several individuals have been indicted for their involvement in orchestrating cryptocurrency scams that targeted American citizens.

user avatarSon Min-ho

Bitcoin Tests 76,000 Resistance After Recovery

chest

Bitcoin is testing the 76,000 resistance zone after a controlled recovery, facing potential rejection that could lead to a return to lower price levels.

user avatarZainab Kamara

International Authorities Unite to Combat Cryptocurrency Scams

chest

International authorities from the US, UAE, and China have arrested 276 individuals involved in cryptocurrency scams that defrauded American victims of millions.

user avatarAyman Ben Youssef

Bitcoin Coinbase Premium Gap Hits Negative Levels, Indicating Increased Selling Pressure

chest

Bitcoin Coinbase Premium Gap has reached a significantly negative level, indicating increased selling pressure on Coinbase.

user avatarTando Nkube

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.