LemFi moves remittances further into Asia and Europe with $53M in new funding | TechCrunch
Briefly

from TechCrunch1 month ago
LemFi has undergone rapid growth by helping diaspora communities send money to emerging markets across Africa, Asia, and Latin America, boasting over one million active users.
TechCrunchhttps://techcrunch.com/2025/01/13/lemfi-moves-remittances-further-into-asia-and-europe-with-53m-in-new-funding/
In 2023, remittances soared to $669 billion, representing significant GDP portions for many emerging economies and often outpacing foreign direct investment as their primary forex source.
TechCrunchhttps://techcrunch.com/2025/01/13/lemfi-moves-remittances-further-into-asia-and-europe-with-53m-in-new-funding/
LemFi's new partnership with Modulr enables it to kickstart European operations while awaiting licensing, expanding its reach to 27 send-from markets and 20 send-to countries.
TechCrunchhttps://techcrunch.com/2025/01/13/lemfi-moves-remittances-further-into-asia-and-europe-with-53m-in-new-funding/
Remittances are crucial financial channels for recipients, but fraud poses serious risks, making it essential for services like LemFi to implement robust fraud detection measures.
TechCrunchhttps://techcrunch.com/2025/01/13/lemfi-moves-remittances-further-into-asia-and-europe-with-53m-in-new-funding/
Read at TechCrunch
#remittances #emerging-markets #fintech #fraud-detection #diaspora-services
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