LemFi, a fintech startup formerly Lemon Finance, has received a $33 million Series A investment round led by Left Lane Capital. The round participants include Y-Combinator, Zrosk, Global Founders Capital, and Olive Tree. The latest round takes LemFi’s total funding to $46.8 million to date.
Founded in 2020 by Ridwan Olalere and Rian Cochran, LemFi provides users with accounts in their country of residence and of origin for personal and business banking needs. The company allows international payments and sending money to 20+ countries.
With the latest investment, LemFi plans to expand further in the US, Europe, Middle East and Asia. It will also deploy capital towards developing new product offerings based on customer needs.
“LemFi has been very deliberate and strategic in acquiring licenses and building a robust network of financial institution partners to facilitate cross-border payments for immigrants,” according to Matthew Miller, Principal at Left Lane Capital, who joined LemFi’s Board of Directors as part of the transaction.
