• 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

Zero Knowledge Proof Presale Auction Gains Popularity

chest

The presale market is heating up as the Zero Knowledge Proof presale auction goes live, attracting traders looking for safer investment opportunities.

user avatarMiguel Rodriguez

Grayscale Set to Launch First US Spot Chainlink ETF

chest

Grayscale is set to launch the first US spot Chainlink ETF, converting its Chainlink Trust into an ETF with staking rewards.

user avatarLuis Flores

Monero Faces Resistance as It Aims for Higher Prices

chest

Monero is currently trading around $420, testing a resistance zone at $435-$440.

user avatarArif Mukhtar

Latvia's Fintech Sector Sees Rapid Growth

chest

Latvia's fintech industry is experiencing rapid growth, with nearly 130 companies and over 3,600 employees generating substantial revenue.

user avatarMaria Gutierrez

Renewable Investments Surge Amid AI-Driven Energy Needs

chest

The heightened demand from AI applications is driving significant investments in renewable energy sources, creating opportunities for investors and energy developers.

user avatarJacob Williams

AI Growth Drives Surge in US Green Stocks

chest

The rise of artificial intelligence is significantly increasing energy demand, leading to a surge in US green stocks as industries adapt to new energy requirements.

user avatarAndrew Smith

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.