LemFi
YC S21London, GB · Founded 2021 · 500 employees · 12 known investors
LemFi provides financial services for immigrants relocating globally, enabling them to move money and access financial products across borders. The company serves immigrants and people with cross-border financial connections in markets including the UK, US, and Canada.
Also known as LemFi (Formerly Lemonade Finance) · Lemonade Finance · Lemonade Tech · Lemonade Technology Inc
FintechUnited KingdomEuropePartly Remote
Founders & leadership· Y Combinator alumni (S21)
LemFi was founded in 2021 by Ridwan Olalere and Rian Cochran.
RO
RC
Investors · 12
Ajim CapitalLagos · $250K – $500Kvia Eunice Ajim · inferred
Endeavor CatalystNew York · $5.5M – $200M
Flucas VenturesJupiter · $100K – $5Mvia Ashley Flucas · inferred
Highland EuropeLondon · $10.8M – $54M
HoaQ$25K – $350K
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Left Lane CapitalNew York · $5M – $75M
MicrotractionLagos · $100K
Olive Tree CapitalBoston
Ossian Capital
Ventures PlatformAbuja · $50K – $1M
Y CombinatorSan Francisco · $500K
Palm Drive CapitalreportedNew York · $500K – $5M
Funding
SEC filings, press & company announcements- Undisclosed amountSeries BMay 2026 · 2 sourcesSource ↗
- Undisclosed amountSeries BJan 2025
Highland Europe (lead), Endeavor Catalyst, Left Lane Capital, Palm Drive Capital, Y Combinator
Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Competitors · 10
by search overlap
Wise694 shared keywordsWise is a financial platform offering international money transfers, multi-currency accounts, and debit cards with low fees and competitive exchange rates, serving millions of users globally.
Remitly613 shared keywordsRemitly is an international money transfer service that enables customers to send money across borders to multiple countries.
Revolut463 shared keywordsLondon-based digital banking app offering multi-currency accounts, cards, trading and business accounts to 65m+ customers.
Transfer Go427 shared keywordsTransferGo is a digital money transfer and multi-currency app that lets people send low-cost international payments to over 160 countries, hold and exchange currencies, and spend via a virtual or physical GoCard. It primarily serves migrants and individuals sending money home, and also offers a platform for businesses making cross-border transactions.
Xoom Corporation413 shared keywordsXoom provides online services for sending money, reloading phones, and paying bills internationally on behalf of family and friends. It is part of PayPal, a digital payments company.
Instarem383 shared keywordsInstarem provides online international money transfers for individuals to send funds to over 60 countries, offering upfront exchange rates, low fees, real-time tracking, and loyalty rewards. It also offers cross-border payment solutions for small and medium businesses to pay overseas suppliers and employees across 160+ countries.
Sendwave332 shared keywordsSendwave provides international money transfer services designed to simplify remittances through digital channels with low fees and fast transfers, serving customers who want to send money across borders without visiting physical locations.
Finder307 shared keywordsFinder is a personal finance comparison platform that helps consumers find deals on savings accounts, bank bonus offers, and rates. It also publishes money-saving content such as budgeting and savings challenges.
TAPTAP288 shared keywordsTaptap Send is a money transfer application that enables users to send remittances to over 70 destinations across Africa, Asia, the Caribbean, and Latin America at lower costs and faster speeds than traditional services. The platform operates in six countries and aims to reduce cross-border remittance costs for developing nations.
Jetlore218 shared keywordsJetlore was a Palo Alto AI startup that turned unstructured retail product data into structured attributes so merchants could personalise what each shopper saw. Founded by Stanford researchers, it raised from Sierra Ventures, Alsop Louie Partners, Fenox Venture Capital, BRM Capital and Mercury Fund, and PayPal acquired it in 2018.
Companies competing with LemFi for the same Google search keywords, organic and paid, via search-intersection analysis.
Acquisitions · 1
Early investors' stakes continue via these dealsWealth 8
Wealth8 is an investment app that lets people start investing from £8 into diversified global portfolios managed by BlackRock and J.P. Morgan, charging a 1% annual fee. It targets retail investors aiming to build long-term wealth and financial independence.
In the news
LemFi acquires Wealth8 following FCA approval - UKTNuktech.news · Jul 2026
LemFi Acquires UK Wealth Platform Wealth8 in Push to Build Migrant Financial Hub - Launch Base Africalaunchbaseafrica.com · Jul 2026Frequently asked questions
- What does LemFi do?
- LemFi provides financial services for immigrants relocating globally, enabling them to move money and access financial products across borders. The company serves immigrants and people with cross-border financial connections in markets including the UK, US, and Canada.
- Who founded LemFi?
- LemFi was founded by Ridwan Olalere, Rian Cochran in 2021.
- Who are LemFi's investors?
- LemFi's investors include Ajim Capital, Endeavor Catalyst, Flucas Ventures, Highland Europe, HoaQ, Left Lane Capital, Microtraction, Olive Tree Capital and 4 more.
- Where is LemFi headquartered?
- LemFi is headquartered in London, GB.