Lemonade Finance users may now send money to Senegal, Ivory Coast, Benin, Cameroon, Tanzania, Rwanda, and Uganda using the Nigerian fintech firm.
Lemonade Finance, founded in 2020 by Ridwan Olalere and Rian Cochran and a participant in Y Combinator’s W21 class last year, allows Africans living abroad to send and receive money from their home nations in a cost-effective, timely, and efficient manner. Its software lets users save their balances in the currencies that are important to them and convert between them quickly.
Local and international transfers to Ghana, Kenya, Nigeria, Canada, and the United Kingdom (UK) are currently available promptly with no hidden costs, and overseas transfers are made at the genuine market exchange rate.
Lemonade customers in the UK and Canada may now send money to Senegal, Ivory Coast, Benin Republic, Cameroon, Tanzania, Rwanda, and Uganda thanks to a new integration. Lemonade Finance now has access to a greater portion of the African market, confirming its pledge to “create the largest neobank for African immigrants.”
“The addition of Senegal, Ivory Coast, Benin Republic, Cameroon, Tanzania, Uganda and Rwanda was data-driven. These six countries have nationals abroad who often need to send money back home,” said Afeez Gbotosho, Lemonade’s head of products.
Lemonade claims to have thousands of users across North America and Europe, and obtained a US $725,000 pre-seed fundraising round led by Microtraction, Ventures Platform, and Acuity Venture Partners following its Y Combinator participation.
