What is LemFi?

LemFi (formerly AfriSend) is a leading International Money Transfer Operator (IMTO) dedicated to empowering migrants and businesses with fast, secure, and affordable cross-border payments. Founded with the mission to revolutionize financial inclusion, LemFi enables users to send money to over 21+ countries—including key corridors like the US to Nigeria, UK to China, and Canada to Ghana—with competitive exchange rates and zero or low fees.

Core Services:

● Multi-Currency Wallets: Hold and transfer funds in USD, GBP, EUR, CAD, and more.

● Instant Transfers: Deliver funds within minutes via bank deposits, mobile wallets (e.g., Alipay, WeChat Pay), or card transfers.

● Transparent Pricing: No hidden fees, with real-time rate calculators for informed decisions.

LemFi’s vision centers on bridging financial gaps for underserved communities, offering a seamless platform for personal remittances and business transactions.

Who Owns and Operates LemFi?

LemFi was co-founded in 2020 by Ridwan Olalere and Rian Cochran, fintech veterans committed to addressing the challenges faced by African migrants. The leadership team includes executives from top firms like Monzo, Uber, and Kraken, ensuring a blend of innovation and regulatory expertise.

Key Partnerships:

● Regulated by FCA (UK), FINTRAC (Canada), and FinCEN (US) for compliance.

● Collaborates with over 100 global banks and mobile money providers to expand accessibility.

How Does LemFi Work?

Sending money with LemFi is simple:

1. Sign Up: Download the app, verify your identity (KYC), and create a multi-currency wallet.

2. Choose Recipient: Select a destination country and enter recipient details (bank account, mobile wallet, etc.).

3. Transfer Funds: Enter the amount, review fees and exchange rates, and confirm the transaction.

4. Track Transfers: Monitor real-time status via the app or email notifications.

What Are the Fees and Exchange Rates?

LemFi prioritizes affordability:

● Zero Transfer Fees: Most corridors (e.g., US to Nigeria) have no fees.

● Competitive Rates: Rates up to 10% better than traditional banks, updated in real time.

● Loyalty Rewards: Earn points for transfers over $20, redeemable for future discounts.

How Fast Are Transfers with LemFi?

● Instant Delivery: 90% of transfers arrive within minutes via mobile wallets or bank deposits.

● Factors Affecting Speed: Recipient bank processing times (rarely over 24 hours).

Is LemFi Secure and Regulated?

LemFi adheres to strict security protocols:

● Encryption & 2FA: Protects user data and transactions.

● AML/KYC Compliance: Mandatory ID verification to prevent fraud.

● Regulatory Licenses: Authorized by FCA, FINTRAC, and FinCEN.

Supported Countries and Payment Methods

Send From: US, UK, Canada, EU countries.

Receive In: Nigeria, China, Ghana, Kenya, Pakistan, and 15+ others.

Popular Corridors:

● US → Nigeria (zero fees, instant delivery).

● UK → China (Alipay/WeChat support).