Lemonade Finance Rebrands into LemFi to Expand International Financial Coverage
- on May 31, 2023
Launched in 2020 as Lemonade Finance to help immigrants to send and receive money to 10 plus countries in the world, including African countries. Yesterday, 30 of May, 2023, the leading fintech company announced that it has been rebranded into LemFi.
LemFi is licensed as an Electronic Money Institution (EMI) with the Financial Conduct Authority in the United Kingdom under RightCard Payment Services. It is also registered as a Money Service Business (MSB) by Canada’s Financial Transactions and Report Analysis Centre.
The company’s moves in rebranding is to focus more on evolution, growth, and aspirations to become a leading force in Africa’s fintech landscape. According to the company CEO and co-founder, Ridwan Olalere, he explained that LemFi was created out of Lemonade Finance to “break down barriers and transcending borders”.
The name we started with was Lemonade Finance. And as our app gained popularity, our reach expanded across multiple countries, and we became the vital link between families and loved ones separated by distance,
Our new name, ‘LEMFI,’ represents our unwavering dedication to breaking down barriers and transcending borders,” says Ridwan. “It symbolises the strength and resilience of our community and allows us to carve our own unique meaning within it.
This time, the Fintech is not just restricted to offering payment services for immigrants only but taking steps ahead to provide payment services for everyone. The name “LemFi” was actually derived from lemonade’s refreshing essence and the acronym “Fi” representing “Finance”, signifying the organization’s continued commitment to revolutionizing financial services.
Furthermore, the fintech company stated the new features and services will begin to be rolling out in the coming months. However, it would be communicated through “email and social media, websites, and through our partners. These changes will include our new name, logo, and colours.”