When Visa invested in Nigerian fintech Moniepoint earlier this year, it didn’t just validate the newly minted unicorn — it signaled a bold new direction. As part of that deal, the Nigerian fintech best known for building one of Africa’s largest business banking platforms, hinted at plans to integrate with Visa Direct, a move that…
Category: remittance
Africa, Asia, Emerging Tech, Fintech, Global Security News, lemfi, remittance
LemFi moves remittances further into Asia and Europe with $53M in new funding
For many emerging market economies, remittances have become a lifeline. Inflows surpassed $669 billion in 2023, according to World Bank research, and they now represent significant portions of GDP in these countries, often outpacing foreign direct investment as the primary source of foreign exchange. Traditional banks and agents maintain a firm grip on the remittance…