LemFi expands International Payment Services to Egypt, targeting Fast-Growing Remittance Market

LemFi, a London-based fintech startup known for its fast and affordable cross-border payment services, has officially expanded operations into Egypt. This move marks a major step in LemFi’s mission to serve the growing needs of African diaspora communities across the globe.

Already active in key markets like the United States, Canada, the UK, and Europe, LemFi now adds Egypt to its growing list of supported remittance corridors, joining Morocco and Tunisia in North Africa.

Tapping Into a High-Value Remittance Market

Egypt is one of the largest remittance-receiving countries in Africa, and globally. In 2024, the country received a record-breaking $29.6 billion in remittances, nearly doubling the previous year’s total. In 2023, these remittances made up 6.11% of Egypt’s GDP, highlighting their importance to the national economy.

• ✅ $29.6B in remittances (2024)
• ✅ 6.11% of GDP tied to remittances (2023)
• ✅ Rising adoption of digital financial services

This growing flow of funds is powered by millions of Egyptians working abroad, many of whom live in LemFi’s existing service regions. The company’s entry into the Egyptian market offers this diaspora a reliable, low-cost, and efficient alternative to traditional money transfer services.

“Egypt’s role as a key remittance corridor is undeniable,” said Philip Daniel, Head of Global Expansion at LemFi. “The Egyptian diaspora deserves seamless, affordable solutions. With this launch, we’re delivering exactly that.”

A Timely Move Backed by Growth and Funding

LemFi’s expansion aligns with Egypt’s recent push for financial inclusion and increased adoption of digital payment platforms. Ongoing economic reforms and greater confidence in the formal financial sector have made it easier for companies like LemFi to operate and scale.

This strategic move is also backed by solid funding and a proven track record:

• ✅ 2+ million users globally
• ✅ $53M Series B funding raised in Jan 2025
• ✅ $86M total funding to date
• ✅ Backed by leading investors like Highland Europe, LeftLane Capital, and Y Combinator

LemFi has already made waves with recent market entries and acquisitions. With Egypt, the company adds another crucial link in its mission to build a more connected and inclusive financial ecosystem for diaspora communities.

What LemFi Brings to Egypt

With its expansion, LemFi offers Egyptian users:

• ✅ Instant cross-border transfers
• ✅ Competitive exchange rates
• ✅ No hidden fees
• ✅ User-friendly mobile app
• ✅ 24/7 multilingual customer support

These features provide Egyptians abroad with a simpler, faster, and more affordable way to send money home, whether for family support, education, or investment.