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30/01/2025
The global remittance market is worth over $700 billion.
And one fintech is making bold moves to become a dominant player.
Here’s how Lemfi’s latest acquisition is setting the stage for its European takeover:
Expanding across Europe isn’t easy.
Strict regulations make it tough for fintechs to operate across multiple countries.
Lemfi already had a British license after acquiring RightCard in 2021.
But that wasn't enough.
The license didn’t cover transactions in the European Economic Area (EEA).
To scale across Europe, Lemfi needed a new solution.
So they made a strategic move.
They acquired Bureau Buttercrane. An Irish currency exchange platform, gaining a key license from the Central Bank of Ireland.
This unlocks passporting rights, allowing Lemfi to operate across all EEA countries.
Why does this matter?
Ridwan Olalere, Lemfi’s CEO, says:
"This was a strategic acquisition to ensure smooth and compliant operations across Europe."
Now, LemFi can process payments seamlessly across Europe.
Just 21 days before the deal closed, Lemfi announced partnering with Modulr to operate in Europe temporarily.
But the long-term plan was always to secure direct approval from Ireland’s regulator.
That approval came fast—thanks to a strong team and previous regulatory credibility.
Now, Lemfi is making Dublin its European HQ, hiring local staff. Building relationships with regulators.
They already process $1 billion in monthly payments globally, and now they’re targeting Europe’s $64 billion remittance market.
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