LemFi Expands International Payment Services into Egypt, Targeting Diaspora and Digital Growth
LemFi, a London-based international payment services startup, has officially launched its platform in Egypt. This strategic move marks a significant step for the company, expanding its reach beyond its existing operational bases in the US, Canada, the UK, and Europe. The launch is primarily aimed at catering to the substantial Egyptian diaspora, capitalizing on the country’s increasing adoption of digital payment solutions within the African tech landscape.
Addressing Egypt’s Remittance Market
The expansion into Egypt reflects LemFi’s commitment to serving a vital remittance corridor. According to Philip Daniel, the Head of Global Expansion and Growth at LemFi, “Egypt’s significance as a remittance destination cannot be understated.” He further noted the consistent growth observed in this corridor over recent years. LemFi aims to provide the Egyptian diaspora, especially those residing in its established markets like the United States, with high-quality payment services. This move also strengthens LemFi’s position within the North African corridor, complementing its existing services for the Moroccan and Tunisian diasporas, and highlights its ambitions in the dynamic African market.
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