●
The new
range of money transmitter licenses (MTLs) will enable LemFi to manage and
execute the transfer of value on customer funds across 14 states, improving
service for customers
●
US
expansion continues LemFi’s mission to build a full suite of financial services
for immigrants, tailored to their specific needs
●
US is the
largest remittance market globally, home to 52 million immigrants, with an estimated $93 billion in remittances sent abroad in 2023 alone.
London, UK, xx
December 2025: LemFi, the financial
platform built for immigrants, has secured 14 new Money Transmitter Licenses
(MTLs) across the US, marking a major step in its mission to deliver safe,
reliable and fully compliant financial services to immigrant communities.
The new
licenses give LemFi the ability to move money for customers directly under
state regulatory oversight, giving the company more control over how transfers
are processed and enabling a smoother, more transparent experience. This will
strengthen LemFi’s promise to operate with clarity, accountability and customer
protection at the core of its US operations.
At a time when
trust matters more than ever in fintech, securing the licenses puts LemFi in
the same league as the financial industry’s most established players. Its
expanding MTL portfolio means LemFi can deliver a smoother, more reliable
experience while collaborating more closely with state regulators and financial
partners nationwide.
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The US is one
of the most important immigrant financial markets in the world and represents a
powerful opportunity for LemFi. Home to 52 million immigrants, they represent
more than 15% of the national population and mean the US is the world’s largest
remittance-sending country. An estimated $93 billion in remittances was sent
from US immigrants to their families and friends in other countries in 2023
alone. LemFi’s new MTL licenses mean it is poised to reach millions more
immigrants who are seeking trusted, regulated ways to support their families
abroad and manage their finances at home, adding to its two million global
customer base.
This
opportunity will only grow: global remittance flows
rose 4.6% between 2023 and 2024 alone, with analysts
forecasting the broader market could surpass $1.5
trillion by 2033 -
underscoring the scale and long-term growth potential of immigrant
financial flows, and reinforcing the need for transparent, reliable,
immigrant-first financial services.
A global vision
for financial inclusion
The US MTLs
join LemFi’s growing portfolio of international licenses, including:
●
An Electronic Money Institution (EMI) license
in the UK (regulated by the FCA) and FCA credit license in the UK
●
A Payment Institution (PI) license in Ireland,
regulated by the Central Bank of Ireland
●
An IMTO license in Nigeria (regulated by the
Central Bank of Nigeria)
LemFi has also
established partnerships with GCash (Philippines), UBL (Pakistan), eSewa
(Nepal), and ClearBank (UK), underscoring its collaborative approach to
delivering trusted financial tools worldwide.
Janine Ross,
Group Head of Compliance at LemFi, said: “Obtaining our own licenses is about
trust just as much as it is compliance. Our customers depend on us for security
and transparency when moving their money, and these licenses demonstrate that
we’re building a financial ecosystem with regulation and customer protection at
its core. This milestone allows us to serve our U.S. customers with greater
autonomy and confidence. It strengthens our infrastructure, speeds up
processing, and ensures our users can send and manage funds under the highest
regulatory standards.”
This latest
announcement continues the expansion of its global product range, part of its
roadmap to provide a full suite of financial products tailored to immigrants’
needs. This includes LemFi Credit, designed to help immigrants who
traditionally struggle to access and build credit do so while also benefiting
from flexible payments. LemFi’s platform can do this by recognising
international credit histories and employing alternative credit assessment
methods. As well, its alternative credit scoring technology powers Send Now Pay
Later (SNPL), designed to enable its customers to send money to their loved
ones when they need to, and access credit safely and securely.
ENDS
About LemFi
Founded in
2021, LemFi is building the future of financial services for immigrants across
the globe. Initially focused on remittance, with over two million people across
Europe and North America relying on LemFi to send funds to families in 30
emerging markets, the company is now expanding to become a full-service
financial hub for immigrants. The LemFi team consists of over 300 people across
Africa, Europe, and North America, with over $85 million in funding from
investors including Highland Europe, Left Lane Capital, Endeavor Catalyst, Palm
Drive Capital, and YCombinator. https://www.lemfi.com/
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