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LemFi, the Nigerian-founded cross-border payments platform, has selected London as its new global headquarters. Formerly known as Lemon Finance, the payments platform is also committing $134.9 million (£100 million) over the next five years to scale its technology, compliance operations, and workforce in the British capital.
The announcement, made on 28 April 2026, came during the historic UK state visit of Nigerian President Bola Tinubu. The visit underscores the deepening economic relationship between the two countries, with bilateral trade now valued at $10.9 billion (£8.1 billion) annually under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP).
In a press release, LemFi says the $134.9 million investment announced today is the largest single fintech investment commitment within the ETIP framework, and it will be used to scale research and development, compliance infrastructure, and headcount expansion at LemFi’s London base. The choice of London is meant to leverage the city’s long-standing status as a global financial and fintech hub, and the company has already grown its UK team by more than 60% since early 2025. It expects to more than double its headcount to 150 employees by the end of the year.
Ridwan Olalere, co-founder and CEO of LemFi, said, “Our London hub will be central to our next phase of growth. From here, we’re building the infrastructure to serve customers across Europe, North America and beyond, creating financial systems that move with people, not against them. LemFi will continue to innovate and develop financial products and services for underserved communities globally.”
Rian Cochran, co-founder and CFO of LemFi, said, “The UK is arguably the most important fintech hub for the global economy, and we believe our £100m commitment will be one of the best investments we have ever made. Our team spans five continents and reflects the corridors we serve: that lived experience is our product advantage. London gives us the regulatory environment and capital access to build a full-stack financial platform for globally mobile communities.”
Founded in 2021 by Olalere and Cochran, LemFi was built to serve a straightforward need: giving migrants and diaspora communities access to financial tools that help move money across borders. The platform now serves more than two million customers across Europe and North America facilitating cross-border payments in more than 30 emerging markets, including Nigeria, Kenya, China, India, and Pakistan.
The company has grown beyond its remittance roots to build the full stack of financial services. In 2025, it acquired London-based credit fintech Pillar to extend lending services to customers who are typically invisible to mainstream lenders. It also secured regulatory approval from the Central Bank of Ireland to acquire Bureau Buttercrane, giving it access to the entire European Economic Area.
It also holds financial licences across Australia, Canada, and 14 US states and its product suite has expanded to include Send Now Pay Later (SNPL), instant access savings, and LemFi Credit. The company has raised $85 million from investors, including Y Combinator, Left Lane Capital, Highland Europe, and employs more than 300 people across Africa, Europe, and North America.
“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,” said Mark Smithson, Country Director for Nigeria and Regional Director for Anglo West Africa at the UK’s Department for Business and Trade (DBT).
For LemFi, the announcement puts it on a firm trajectory to scale beyond its original mission while the investment showcases the growing importance of the UK-Nigeria economic trade. For London, it further affirms its designation as the go-to place for high-growth FinTech companies building for the mobile-first population.
