- LemFi designates London as its headquarters and pledges major investment
- Building on the momentum of the UK-Nigeria State Visit and a historic £8.1bn bilateral trade corridor
- LemFi’s co-founders were honoured guests at the historic UK-Nigeria State visit, where the £100m commitment was agreed alongside the UK Government
Lagos, Nigeria, April 28, 2026: LemFi, the global financial platform co-founded by Nigerian entrepreneur Ridwan Olalere, has committed £100 million to the United Kingdom over the next five years, marking a significant milestone in its journey from local startup to global fintech platform.
The announcement follows the historic UK–Nigeria State Visit in March 2026, where LemFi co-founders Ridwan Olalere and Rian Cochran were recognised for their contributions to the global diaspora economy. The investment forms part of the UK–Nigeria Enhanced Trade and Investment Partnership, as bilateral trade between both countries reaches a record £8.1 billion annually.
LemFi’s £100m commitment was made possible by the UK-Nigeria Department of Business and Trade, as part of the UK-Nigeria Enhanced Trade and Investment Partnership. LemFi will continue to innovate and develop innovative financial products and services for underserved communities globally.
Mark Smithson, Country Director for Nigeria and Regional Director for Anglo West Africa at the UK’s Department for Business and Trade (DBT), said:
“LemFi’s decision to designate London as its global headquarters, alongside a £100 million investment and job creation commitment over the next five years, is a strong vote of confidence in the UK’s fintech ecosystem and deepening of our economic partnership. It also underlines the UK’s position as a global home for high‑growth – supporting firms to scale responsibly, delivering safer and more accessible financial services for diaspora communities worldwide.”
Ridwan Olalere, Co-founder and CEO of LemFi, said: “Without the regulatory framework that helped us get started, LemFi may have continued to exist as an idea. While London gives us the capital market and global regulatory framework to help us achieve our mission, we will continue to innovate for the country and the continent at large, as with our Global Accounts product that provides Nigerians living in Nigeria with the ability to transact in the currencies of global commerce.”
Dr Bosun Tijani, Honourable Minister of Communications, Innovation & Digital Economy (FMCIDE), said: “LemFi’s continued expansion and global positioning reflect the resilience and ambition of the Nigerian spirit. We are proud to see a company with deep Nigerian roots scale internationally while addressing critical financial inclusion challenges. As a government, we remain committed to creating an enabling environment that supports innovation and empowers companies like LemFi to take bold strides on the global stage.”
This global expansion is supported by the Central Bank of Nigeria’s (CBN) robust regulatory framework, under which it operates as a licensed International Money Transfer Operator (IMTO).
By maintaining high standards of compliance with the Central Bank of Nigeria and aligning with the broader economic vision of the Nigerian Presidency, LemFi continues to prove that Nigerian-born innovation is a defining force in the global fintech industry.
ENDS
About LemFi
Founded in 2021, LemFi’s mission is to build fair, simple and accessible financial services for people who live and work across borders. Initially focusing on remittance, with over two million people across Europe and North America relying on LemFi to send funds to families in more than 30 emerging markets, including China, India, Kenya, Nigeria, and Pakistan. The LemFi team is 300+ people across Africa, Europe and North America, and it has $85 million in funding from investors including Highland Europe, Left Lane Capital, Endeavor Catalyst, Palm Drive Capital and YCombinator. lemfi.com
