Introducing LemFi: A game changer for African migrants sending money home

By Nhlanhla Muthe

LemFi Co-founder and CEO Ridwan Olalere says the new AI-powered “Send Now, Pay Later” service will help African and global migrants support their families instantly while building stronger financial inclusion.

Fintech innovator LemFi has unveiled an Artificial Intelligence-driven “Send Now, Pay Later (SNPL)” service that lets millions of UK-based African and global migrants instantly send money home on credit.

The remittance innovation that combines credit and remittances to tackle the challenge of limited credit history and cash flow timing is presently open to all UK immigrants, with plans to broaden to other markets.

LemFi, an international payments platform serving over 2 million customers, announced the launch of SNPL to empower immigrants who often struggle with limited UK credit histories and immediate remittance needs. Ridwan Olalere, LemFi’s Co-founder and CEO, explained that the product lets users send money to family and friends across more than 30 countries, while paying back later through flexible LemFi Credit lines ranging from £300 to £1 000.

“The rise of Buy Now, Pay Later means people across the world can buy products and stagger payments depending on cash flow. But this has never been possible before with remittance. With Send Now, Pay Later, we are integrating credit directly into the remittance experience, ensuring financial support is never delayed by cash flow timing,” he said.

Powered by LemFi’s Ensemble AI model, the system analyses open banking data, credit bureau information, and remittance patterns to make real-time credit decisions. The AI continuously learns and adapts, offering tailored limits and repayment terms, even for newcomers without formal credit histories.

“AI allows us to see beyond traditional banking systems. It helps us recognise potential, not just past credit performance, and opens the door to fairer access to financial services for migrants,” further explained Olalere.

The innovation addresses a massive gap, nearly five million UK residents are considered “credit invisible,” with immigrants from emerging markets disproportionately excluded. LemFi’s model aims to change that, reducing reliance on costly, unregulated lenders and making cross-border transfers faster and more inclusive.

Following its UK debut, LemFi plans to also roll out the service in the US, Canada, and Europe. Fintech, which raised $53 million in Series B funding earlier this year, says it’s building “a full-stack, AI-enabled financial ecosystem” designed for global citizens on the move.

Olalere stressed that with Send Now, Pay Later, LemFi is not just making remittances smarter but rather redefining financial inclusion for the modern immigrant.