Fintechs rush for FX transactions will only benefit customers and startups with scale
Nigerian fintechs are focusing on consumer-oriented cross-border transaction products due to the stability of dollar-based transactions. The Central Bank of Nigeria reported remittance inflows of $553 million in July 2024, marking a 130% increase from 2023.
Lemfi completes acquisition of Irish currency exchange Bureau Buttercrane; begins European march
Lemfi acquires Bureau Buttercrane for European expansion. Acquisition received regulatory approval from the Central Bank of Ireland.
Lemfi Secures $53M Series B Funding to Expand Into Europe and Launch Global Services
Lemfi secured $53 million in Series B funding. The startup plans to expand into Europe through the acquisition of a European company.
Diaspora dollars: How Africa's diaspora can fuel startup growth
The African diaspora sent nearly $100 billion to the continent last year, surpassing venture capital funding. Building financial products tailored to immigrants and investing in the creative sector could be areas for innovation.
