LemFi has received approval to acquire Wealth8, a UK-based investment platform.
Founded in 2021, LemFi begin its existence focusing on remittances but tis now expanding services to support credit, savings and with Wealth8 investing.
LemFi has received the backing of well-known VCs like Highland Europe, Left Lane Capital, Endeavor Catalyst, Palm Drive Capital and Y Combinator.
Wealth8 was created to simplify and make accessible investing to the underserved. Wealth8 offers minimums as low as £8. The App based service provides access to funds and ETFs. The company has partnered with large financial services firms to provide the offerings.
LemFi says it expects to scale Wealth8 services to their more than 2 million user base. LemFi operates in various markets including the UK, US, Europe and Australia with remittances supported in Africa and Asia.