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London-based FinTech LemFi has launched savings, credit and data eSIMs alongside its money transfer service, in the biggest product expansion in its history.
The company has also rebuilt its app and introduced a new global brand, “Ambition has no passport”.
Savings and credit are live in the UK only for now, with other markets to follow. The eSIM service covers more than 100 destinations.
“We started LemFi because sending money home was broken. What we learned is that the harder problem starts after the transfer. Our customers are building careers and businesses in one country while supporting people in another, and the financial system treats them as if they can only exist in one place at a time. That is the wrong answer for people this ambitious, so we have rebuilt LemFi to work the way their lives do. Ambition travels. The infrastructure behind it should travel too,” said Ridwan Olalere, co-founder and CEO of LemFi.
Founded in 2021 by Ridwan Olalere and Rian Cochran, LemFi is a financial platform that serves more than two million customers who send money to over 30 countries across Africa, Asia and Europe.
The company says it handles more than $2 billion in transactions every month and plans to add more countries next year.
The new UK savings account pays 5% AER for the first six months, then moves to a tracker rate of 3.04% AER that follows the Bank of England base rate. Accounts open from £1 and carry no withdrawal penalty.
Deposits are held by ClearBank and covered by the Financial Services Compensation Scheme up to £120,000 per eligible depositor.
The company offers a revolving credit line through a virtual card on Apple Pay and Google Pay, allowing users to spend and send money.
This credit is provided by Pillar, a regulated provider that LemFi acquired in 2025. Eligible customers can also access their Equifax credit score for free through the app.
According to the company, the app has been redesigned to combine multiple products and services into one account, rather than just being a transfer app. The new branding will be used across the app, website, marketing, and social media in all markets.
“LemFi started as a way to send money home. Our customers turned it into a way to build a life across borders. They are not defined by the country they left. They are defined by what they are building. Ambition has no passport is not a line we placed on top of the product. It is the idea the whole system is built from, from the app you open in the morning to the poster you walk past on the way to work. We have built this brand to keep up with them,“ said Isabel Ron-Pedrique, VP of Design and Brand at LemFi.
