LemFi, a London-based startup specializing in international payment services for immigrant communities in the UK, USA, Canada, and Europe, has obtained regulatory approval from the Central Bank of Ireland (CBI) to acquire Irish payment firm Bureau Buttercrane.
Key Acquisition Details
Pomelo Remits Europe Limited, trading as LemFi, has successfully secured regulatory approval from the CBI to acquire a majority shareholding in Bureau Buttercrane Limited.
With this acquisition, LemFi inherits Bureau Buttercrane’s existing Payment Institution license (CBI reference number: C182347), allowing it to offer an expanded range of financial services across the European Economic Area (EEA).
These services include, but are not limited to:
- Payment account issuance
- Money remittance
- Additional cross-border financial services
LemFi’s Global Expansion Strategy
This acquisition reinforces LemFi’s commitment to providing seamless, efficient, and compliant financial services to immigrants worldwide. The company has been actively expanding its regulatory footprint to solidify its position in the global financial sector.
Recent Regulatory Milestones:
- 2021 – Acquired RightCard Payment Services Limited (UK), securing an Electronic Money Institution (EMI) License.
- 2023 – Obtained an International Money Transfer Operator (IMTO) license from the Central Bank of Nigeria (CBN).
- 2024 – Secured approvals from the Bank of Ghana (BoG) to establish multiple partnerships.
- Late 2024 – Received approvals from the Central Bank of Kenya (CBK).
- Late 2024 – Launched services in select European countries through a strategic partnership, enabling instant money transfers to recipients in over 20 countries across Asia, Europe, and Africa.
Leadership’s Statement
“We are very pleased to have completed this acquisition and are particularly delighted by the possibilities this offers us at LemFi,” said Rebeca Wignall, General Counsel at LemFi. “We also extend our gratitude to the Central Bank of Ireland (CBI) and the legacy team at Bureau Buttercrane for their role in facilitating this process.”
Looking Ahead
With the support of a recently completed US$53 million Series B fundraising round, LemFi is set to continue its global expansion goals, staying true to its vision of building the future of financial services for immigrants everywhere.
For more information, visit www.lemfi.com or contact [email protected].
