- •The new range of money transmitter licenses (MTLs) will enable LemFi to manage and execute the transfer of value on customer funds across 14 states, improving service for customers.
- •US expansion continues LemFi’s mission to build a full suite of financial services for immigrants, tailored to their specific needs.
- •The US is the largest remittance market globally, with an estimated $93 billion in remittances sent abroad in 2023 alone.
London, UK, 10 December 2025: LemFi, the financial platform built for the underserved, has secured 14 new Money Transmitter Licenses (MTLs) across the US, marking a major step in its mission to deliver safe, reliable and fully compliant financial services to immigrant communities.
The new licenses, which are for states including Illinois, Michigan, Arizona, Oregon, and Delaware, give LemFi the ability to move money for customers directly under state regulatory oversight, giving the company more control over how transfers are processed and enabling a smoother, more transparent experience. This will strengthen LemFi’s promise to operate with clarity, accountability and customer protection at the core of its US operations.
At a time when trust matters more than ever in fintech, securing the licenses puts LemFi in the same league as the financial industry’s most established players. Its expanding MTL portfolio means LemFi can deliver a smoother, more reliable experience while collaborating more closely with state regulators and financial partners nationwide.
The US is one of the most important financial markets in the world and represents a powerful opportunity for LemFi. Home to 52 million diasporans, they represent more than 15% of the national population and mean the US is the world’s largest remittance-sending country. An estimated $93 billion in remittances was sent from the US to their families and friends in other countries in 2023 alone. LemFi’s new MTL licenses mean it is poised to reach millions more, who are seeking trusted, regulated ways to support their families abroad and manage their finances at home, adding to its two million global customer base.
This opportunity will only grow: global remittance flows rose 4.6% between 2023 and 2024 alone, with analysts forecasting the broader market could surpass $1.5 trillion by 2033 - underscoring the scale and long-term growth potential of immigrant financial flows, and reinforcing the need for transparent, reliable, immigrant-first financial services.
A global vision for financial inclusion
The US MTLs join LemFi’s growing portfolio of international licenses, including:
- •An Electronic Money Institution (EMI) license in the UK (regulated by the FCA) and FCA credit license in the UK
- •A Payment Institution (PI) license in Ireland, regulated by the Central Bank of Ireland
- •A Money Service Business (MSB) license in Canada, regulated by the Financial Transactions and Report Analysis Centre of Canada (FINTRAC).
LemFi has also established partnerships with GCash (Philippines), UBL (Pakistan), eSewa (Nepal), and ClearBank (UK), underscoring its collaborative approach to delivering trusted financial tools worldwide.
Janine Ross, Group Head of Compliance at LemFi, said: “Obtaining our own licenses is about trust just as much as it is compliance. Our customers depend on us for security and transparency when moving their money, and these licenses demonstrate that we’re building a financial ecosystem with regulation and customer protection at its core. This milestone allows us to serve our U.S. customers with greater autonomy and confidence. It strengthens our infrastructure, speeds up processing, and ensures our users can send and manage funds under the highest regulatory standards.”
This latest announcement continues the expansion of LemFi’s global product range, part of its roadmap to provide a full suite of financial products tailored to the needs of the underserved. This includes LemFi Credit, designed to help immigrants who traditionally struggle to access and build credit do so while also benefiting from flexible payments. LemFi’s platform can do this by recognising international credit histories and employing alternative credit assessment methods. As well, its alternative credit scoring technology powers Send Now Pay Later (SNPL), designed to enable its customers to send money to their loved ones when they need to, and access credit safely and securely.
ENDS
About LemFi
Founded in 2021, LemFi is building the future of financial services for immigrants across the globe. Initially focused on remittance, with over two million people across Europe and North America relying on LemFi to send funds to families in 30 emerging markets, the company is now expanding to become a full-service financial hub for immigrants. The LemFi team consists of over 300 people across Africa, Europe, and North America, with over $85 million in funding from investors including Highland Europe, Left Lane Capital, Endeavor Catalyst, Palm Drive Capital, and YCombinator. https://www.lemfi.com/
