Emerging-market Fintech LemFi says it will commit £100 million in investment to the UK over 5 years. The company said it would establish its global headquarters in London as it anticipates the UK will emerge as a top hub for cross-border finance.
LemFi reports that it currently serves over two million global customers, enabling cross-border payments to over 30 countries, including China, India, Kenya, Nigeria, and Pakistan.
LemFi announced the investment during a visit of Nigerian Vice President Bola Tinubu to the UK, sharing that UK-Nigeria trade now tops £8.1 billion annually.
Ridwan Olalere, LemFi co-founder and CEO, said their London hub will be central to their growth.
“From here, we’re building the infrastructure to serve customers across Europe, North America and beyond, creating financial systems that move with people, not against them.”LemFi’s £100m commitment is the largest single fintech investment pledge, forming part of the UK-Nigeria Enhanced Trade and Investment Partnership. LemFi will continue to innovate and develop financial products and services for underserved communities globally.”