London-based fintech LemFi has officially expanded its international payment services to Egypt, marking a major step in its broader North African growth strategy. The launch enables members of Egypt’s growing diaspora community to send money back home more affordably and reliably from LemFi’s core markets across the United States, Canada, the United Kingdom, and Europe. This expansion follows the company’s entry into Morocco and Tunisia, further establishing LemFi as a key remittance partner in the region.
Egypt’s Vital Role in Global Remittances
Egypt has become one of the most significant remittance destinations globally, receiving a record $29.6 billion in 2024 alone, nearly doubling its 2023 inflows. These remittances now account for 6.11% of Egypt’s GDP, making them a critical financial pillar for the country’s economy. With economic reforms strengthening trust in formal banking and digital services, the conditions are ripe for efficient international payment platforms like LemFi to thrive.
Supporting a Digitally Connected Diaspora
Egypt’s global diaspora includes a large number of skilled workers and professionals living in LemFi-supported countries. This customer segment has shown increasing adoption of digital financial tools, particularly those that offer affordability and speed. LemFi’s services provide a much-needed bridge for Egyptians abroad who seek reliable, cost-effective ways to support family members back home.
LemFi's Vision for Seamless Global Transfers
Commenting on the launch, Philip Daniel, Head of Global Expansion and Growth at LemFi, emphasized Egypt’s importance in the global remittance landscape. He noted that the consistent growth in the Egypt corridor aligns well with LemFi’s ambitions to serve diaspora communities in key international markets. Daniel reiterated LemFi’s commitment to offering high-quality services to underserved communities, especially where remittances play a central economic role.
Leveraging Momentum and Market Readiness
The decision to enter Egypt comes at a time when the country’s digital payments market is rapidly maturing. With more Egyptians adopting mobile wallets, digital banking, and online financial services, LemFi sees a strong opportunity to meet demand with its innovative and easy-to-use platform. By providing a smooth user experience, fast transfers, and competitive rates, LemFi is poised to become a preferred remittance partner for the Egyptian diaspora.
Backed by Growth and Global Investment
Since its launch, LemFi has served over 2 million customers across the U.S., U.K., Canada, and Europe. In January 2025, the company closed a $53 million Series B funding round, bringing its total funding to over $86 million, with backing from top investors such as Highland Europe, LeftLane Capital, Endeavour Capital, and Y Combinator. This financial backing has supported LemFi’s ambitious global expansion strategy and strengthened its infrastructure to deliver reliable payment services at scale.
A Global Approach to Inclusive Finance
LemFi’s model focuses on creating borderless financial connectivity that empowers diaspora communities with secure, affordable, and transparent international payments. Its entrance into Egypt reflects a broader mission to support remittance users in high-demand corridors through well-designed digital platforms. This global approach ensures that remittance flows are not only maintained but also optimized for efficiency and impact.
With Egypt now added to its portfolio of serviced countries, LemFi continues to build a robust network for cross-border payments, tailored to the needs of African diaspora communities. Its entry into this high-value remittance corridor showcases both its strategic focus and commitment to financial inclusion. As digital adoption increases and remittance flows rise, LemFi is well-positioned to play a leading role in reshaping how money moves across continents.