# LemFi

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lemfi

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.lemfi.com
- Total disclosed funding: $86M
- Latest round: Series B (Jan 13, 2025)
- Investors on record: 8

## About

Pomelo Technology Canada Ltd. d.b.a. LemFi, f.k.a. Lemonade Finance founded in 2020 and headquartered in London, UK. specializes in cross-border financial services. In May 2026, LemFi raised venture funding by Tether Ventures. The CEO, Ridwan Olalere, leads the company, which was co-founded by CFO Rian Cochran.

LemFi specializes in providing innovative financial solutions aimed at enhancing cross-border transactions and facilitating remittances, particularly for underserved populations. Their core offerings center around a digital platform that enables users to send money internationally with low fees and competitive exchange rates. The platform primarily targets migrant workers and individuals in developing regions, aiming to streamline the often cumbersome and costly process of transferring funds back home. By focusing on user-friendly technology, LemFi's service allows for quick and reliable money transfers, addressing the essential need for accessible financial services in markets such as Sub-Saharan Africa, Latin America, and parts of Asia. The company’s customer base includes both individual consumers seeking affordable remittance options and businesses that require efficient payment solutions for various transactions.

LemFi generates revenue through a transaction-based model, where customers pay fees for each money transfer executed via their platform. This service is structured to cater to both individual users and small businesses, ensuring accessibility and ease of use. The pricing framework is designed to be transparent, with fees determined by the transfer amount and destination, which allows clients to understand the costs upfront. By promoting partnerships with local agents and financial institutions, LemFi enhances its market reach, establishing a strong presence in regions where traditional banking services may be limited. The company’s flagship service includes a streamlined app that facilitates real-time currency exchanges and payment processing, reinforcing its commitment to delivering value to its clients and fostering financial inclusion.

## Funding rounds

- Series B, Jan 13, 2025, $53M — Y Combinator, Endeavor Catalyst, Palm Drive Capital, Highland Europe, Left Lane Capital
- Series A, Aug 24, 2023, $33M — Y Combinator, Global Founders Capital, Zrosk Investment Management, Left Lane Capital, Olive Tree Capital

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series A, Series B
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Series A
- Zrosk Investment Management (https://capitalatlas.ai/funds/zrosk-investment-management) — Series A
- Left Lane Capital (https://capitalatlas.ai/funds/left-lane-capital) — Series A, Series B
- Olive Tree Capital (https://capitalatlas.ai/funds/olive-tree-capital) — Series A
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series B
- Palm Drive Capital (https://capitalatlas.ai/funds/palm-drive-capital) — Series B
- Highland Europe (https://capitalatlas.ai/funds/highland-europe) — Series B