Nigeria’s Lemonade Finance expands to 7 new markets

Customers of Nigerian fintech startup Lemonade Finance can now ship cash to Senegal, Ivory Coast, Benin, Cameroon, Tanzania, Rwanda and Uganda.

Based in 2020 by Ridwan Olalere and Rian Cochran and a participant in Y Combinator’s W21 batch final 12 months, Lemonade Finance permits Africans overseas to ship and obtain cash from their house international locations in environment friendly, inexpensive and quick methods. Its app permits customers to carry their balances within the currencies that matter to them, simply changing one to the opposite.

The corporate already provided native and worldwide transfers to Ghana, Kenya, Nigeria, Canada and the UK (UK) immediately with out hidden charges, and makes worldwide transfers at the actual market alternate fee.

Due to a brand new integration, Lemonade customers within the UK and Canada can now ship cash to Senegal, Ivory Coast, Benin Republic, Cameroon, Tanzania, Rwanda and Uganda. This new integration opens Lemonade Finance to a bigger share of the African market, and cements its promise to “construct the most important neobank for African immigrants”.  

“The addition of Senegal, Ivory Coast, Benin Republic, Cameroon, Tanzania, Uganda and Rwanda was data-driven. These six international locations have nationals overseas who usually must ship a refund house,” stated Afeez Gbotosho, Lemonade’s head of merchandise.

Lemonade claims to have 1000’s of customers throughout North America and Europe, and within the wake of its Y Combinator participation raised a US$725,000 pre-seed funding spherical that featured the likes of Microtraction, Ventures Platform, and Acuity Enterprise Companions.

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