London-based fintech LemFi has extended its international money transfer services to Egypt, tapping into one of the world’s largest remittance corridors. This expansion follows LemFi’s earlier launches in Morocco and Tunisia as part of its broader growth strategy across North Africa.
Remittances to Egypt have seen significant growth, reaching $29.6 billion in 2024—nearly double the previous year—according to the Central Bank of Egypt. These inflows now constitute over 6% of Egypt’s GDP.
LemFi offers low-cost, fast, and secure cross-border transfers via its mobile app, enabling Egyptians living abroad to send funds efficiently. With this launch, recipients in Egypt can receive money quickly from senders in the UK, US, Canada, and Europe.
Philip Daniel, LemFi’s Head of Global Expansion and Growth, emphasized Egypt’s importance as a remittance destination and highlighted the company’s commitment to providing quality service to the Egyptian diaspora across its key markets.
Currently serving over 2 million customers, LemFi recently raised $53 million in Series B funding, bringing its total to over $86 million. Supported by investors such as Highland Europe, Left Lane Capital, and Y Combinator, LemFi continues to scale its presence in emerging markets.
