LemFi, a cross-border payment solution enabling the diaspora community to send and receive money back home, formally launched its services in Kenya today. The company promises to revolutionize the international money transfer market with innovative solutions at zero fees.
Customers in the United Kingdom, United States and Canada can access the services by downloading the LemFi app, which enables them to send funds directly into the bank and mobile money accounts at zero fees. The app also supports using multiple currencies through various wallets that customers can open and deposit money in different accounts.
The LemFi app also provides a Kenya Shillings wallet setup where customers can open and fund their accounts via mobile money. Once open, customers can easily change their Kenya Shillings to currencies like USD, GBP & CAD depending on their transactions.
LemFi targets over 500,000 Kenyans living outside the country, with the United States, United Kingdom and Canada being among the most popular destinations. Through its expansive set of fintech offerings, LemFi aims to provide Kenyans with the ability to seamlessly send money to family and friends back home instantly at the best forex rates.
Speaking at the launch event in Nairobi, LemFi Country Manager Kakea Mbacha said:
“When Africans leave their countries to work, study or live abroad, they still maintain family, business and friendship connections back home. These connections are often maintained through communication and the need for effective ways to send and receive items and money from home. “It is for this reason that LemFi exists.”
LemFi is not alone in this; their operations in Kenya will be supported by their world-class partner, Pesa Swap – a local online and mobile payment solutions company based in Nairobi and the United Kingdom that provides locally relevant and alternative payment methods for global, regional and local merchants.
“Our services will not attract any fees as we strive to ensure that Kenyans in the diaspora can send money home instantly, at the best rates. This is the brand’s promise,”
Pesa Swap CEO Chris Munyasya observed that diaspora remittances have grown tremendously in the last financial year, with 50% of the money being sent by women.
“We need to empower our people to access money transfer services at affordable rates so that they can keep the cash flowing back home,” he added.
LemFi is also committed to improving the product through direct feedback from customers. Last year, in partnership with the Stoke UK Diaspora SACCO, the company celebrated Jamhuri Day Eve. Customers could interact with staff members and share direct feedback on how better the product can work for them.
The event also featured the announcement of talented comedian Blessed Njugush as LemFi brand ambassador. The talented comedian will work closely with LemFi to promote the company’s services and products amongst the Kenyan diaspora and lend his voice to LemFi’s marketing campaigns and initiatives.
LemFi, formerly Lemonade Finance, was founded in 2020 with a simple vision, to empower the diaspora community seeking to achieve more in their lives. The company delivers its services through an app that enables users to send money to 10+ countries.
The decision to change the name was driven by a desire to simplify and capture the essence of the company’s vision to differentiate itself in the evolving financial services landscape and better serve it’s expanding community.
With LemFi, Kenyans in the UK, USA and Canada can send money home at the best rates, instantly and at zero fees. All these and more on how the brand plans to improve the financial lives of Kenyans and other Africans in the diaspora will continue to be unveiled, one feature at a time.
The LemFi app is used by thousands of Africans in Canada and the UK to send money back home to Ghana, Kenya, Nigeria and seven other African countries. It is also now available in the USA.