LemFi received approval to purchase wealth8A UK based investment platform.
Founded in 2021, LemFi remains focused on remittances but is now expanding services to support credit, savings and Wealth8 investing.
LemFi has received backing from well-known VCs such as Highland Europe, Left Lane Capital, Endeavor Catalyst, Palm Drive Capital and Y Combinator.
Wealth8 was created to simplify and make investing accessible 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 major financial services firms to provide the offerings.
LemFi said it expects to scale Wealth8 services to a user base of more than 2 million. LemFi operates in several markets including the UK, US, Europe and Australia, with remittances supported in Africa and Asia.
