LemFi, a London-based fintech specialising in international payment services for immigrant communities, has acquired Irish payment firm Bureau Buttercrane.
The acquisition, which received regulatory approval from the Central Bank of Ireland, grants LemFi Bureau Buttercrane’s existing Payment Institution license. This authorization enables LemFi to expand its financial services within the European Economic Area (EEA), including payment account issuance and money remittance.
The move aligns with LemFi’s broader strategy to scale its European operations. Recently, the company secured $53 million in a Series B funding round led by Highland Europe, bringing its total capital raised to $85 million. Other investors, including Left Lane Capital, Palm Drive Capital, Endeavor Catalyst, and Y Combinator, also participated in the round.
LemFi has been on a steady growth trajectory in recent years. In 2021, the company acquired UK-based RightCard Payment Services Limited, securing an Electronic Money Institution (EMI) license. In 2023, it obtained an International Money Transfer Operator license from the Central Bank of Nigeria. The following year, LemFi expanded into Ghana and Kenya through strategic partnerships and later launched services in select European countries, enabling fast transfers to over 20 countries across Asia, Europe, and Africa.
Commenting on the acquisition, Rebeca Wignall, General Counsel at LemFi, expressed enthusiasm about the company’s continued expansion: “We are very pleased to have completed this acquisition and are particularly delighted by the possibilities this offers us at LemFi.”
She also acknowledged the role of the Central Bank of Ireland and the Bureau Buttercrane team in facilitating the process.
With this latest acquisition, LemFi is poised to enhance its service offerings and further solidify its presence in the European financial landscape.
