A competitor of LemFi that is expanding its services beyond remittances into payment solutions.
African remittance startups to watch in 2026
Africans abroad sent home $56 billion in remittances to Sub-Saharan Africa in 2024. LemFi reported handling over $1 billion in monthly payment volume and processing over $2 billion in total transactions in 2023.
Tanzania’s NALA enters Kenya with Equity Bank, Pesalink partnership
NALA has expanded into Kenya through a partnership with Equity Bank and Pesalink. The partnership allows for real-time fund transfers to mobile wallets or bank accounts.
Nigerian remittance startup LemFi acquires UK card issuer pillar to launch credit cards for immigrants
LemFi has acquired Pillar, a London-based credit card issuer, to integrate remittances and credit services. The acquisition allows LemFi to leverage Pillar's FCA license to bypass lengthy regulatory processes.
Fintech in Africa Gains Global Recognition: Nala, Carry1st, and Tala Featured in Forbes Fintech 50
Tala has empowered millions in Kenya with its consumer credit app, leading to its expansion into India and the Philippines. Nala has raised $50 million in funding and is facilitating cross-border payments from the U.S. and Europe to Africa.
Tuma Ventures enters Tanzania with new PSP licence approval
Tuma Ventures granted PSP licence by the Bank of Tanzania. Expansion of financial services in Tanzania including real-time payment processing.
