LemFi, an international financial and payment company that allows Africans diaspora to send money to various countries, including Nigeria, Ghana, and others in Africa, Asia, and Europe, has announced launch of international payment services in Egypt. LemFi expansion into North Africa targets Egyptians living in the U.K., U.S., Canada, and Europe.
The expansion allows Egyptian diasporas to send money to pharaoh land with low transfer fees, and secured and reliable international payment services to any Egypt Bank. However, it's worth noting that this LemFi's expansion into Egypt is part of the company’s plan for North Africa, following earlier launches in Morocco and Tunisia.
These expansions enables LemFi to extend its remittance services to North Africa’s large diaspora population, tapping into the region's increasing embrace of digital payments. It also strengthens the company's presence as a trusted financial partner within the North African and Middle East region.
Egypt stands out as one of Africa’s most vibrant and influential economies. The country is consistently ranking among the top global destinations for remittance inflows. The country accounted for about 6.11% of GDP of the total money sent home in 2023. In 2024, the country received a record $29.6 billion in remittances globally; that about 2x the previous year’s record.
Egypt’s recent economic reforms have strengthened trust in its formal financial system, and this has drive consistent growth in remittance inflows and has also opened doors for global payment providers. With a large and expanding diaspora—many based in countries where LemFi operates—there’s a growing demand for dependable, affordable, and efficient international money transfer services to support loved ones back home.
How LemFi Works in Egypt
LemFi works in Egypt by allowing Egyptians, individual, or businesses based in countries where LemFi operates—Nigeria, Morocco, Tunisia, United State, United Kingdom, Canada, and more—to send money into the country using the LemFi Mobile App. The remittance payment is almost instant, and it is efficient, and affordable.
%20(11).jpeg "Egypt's pyramids")
LemFi works or acts as an the financial technology company that helps facilitates international money transfers from the UK, US, Canada, and several European countries to destinations in Africa and Asia—including those listed below.
The company works by offering multi-currency wallets/accounts to its users, allowing them to hold and manage funds in various currencies like GBP, EUR, CAD, and USD. These foreign currencies makes it easier for anyone to send money globally. Through the multi-currency wallets, LemFi provides services like currency conversion, peer-to-peer transfers, and real-time notifications.
Countries where LemFi operates
Here are countries where LemFi is currently available and operating:
- United Kingdom
- Canada
- Nigeria
- Morocco
- Tunisia
- United State
- Pakistan
- India
- Ghana
- China
- Uganda
- Kenya
- Bangladesh
- Philippines
- Senegal
- Mexico
- Brazil
- Tanzania
- Ivory Coast
- Cameroon
- Benin
- Rwanda
- Ethiopia
- some EU countries
- and Egypt
LemFi’s expansion to serve the Egyptian diaspora is inline with global economic trends toward growing remittance markets and increased demand for modern, tech-driven payment solutions in regions embracing digital innovation.
About LemFi
Founded in 2020 as Lemonade Finance but rebranded to LemFi in August 2022, and since inception, the company has supported over 2 million customers in the United States, the United Kingdom, Canada, and Europe.
The rebrand was for the purpose expanding and to aim its vision in the global digital payments space, especially as it grew beyond just financial services for Nigerians to serving multiple diaspora communities across Africa and Asia.
Through recent acquisitions and entry into new markets, LemFi has shown it has the team, tools, and vision to provide dependable, affordable, and impactful financial services that enables diasporas worldwide to stay financially linked with their countries of origin.
In January 2025, LemFi raised $53 million in a Series B funding round. This finance allows the company to push its total funding beyond $86 million. The round got funded by Highland Europe, LeftLane Capital, Endeavour Capital, and Y Combinator.
