LemFi moves remittances further into Asia and Europe with $53M in new funding
- Remittances inflows surpassed $669 billion in 2023.
- LemFi secured $53 million in new funding to expand operations.
- LemFi has over one million active users sending money to emerging markets.
The rapid growth of fintech companies like LemFi highlights the evolving landscape of the remittance market, where traditional banks face increasing competition. As these companies leverage technology to offer better services, they not only enhance customer experience but also contribute significantly to the economies of emerging markets. It will be interesting to see how these dynamics play out as regulations and market conditions evolve.
