LemFi Wins FCA Approval to Acquire Wealth8, Pushing Remittance App Into Investing #

Cross-border fintech LemFi has received FCA approval to acquire Wealth8, a UK investment platform, adding long-term investing to a product lineup that started with international money transfers.

LemFi announced the deal this week. The company has expanded over recent years into credit, connectivity services and, in 2025, a high-yield instant-access savings account. Chief executive Ridwan Olalere described the direction on LinkedIn as “Send. Save. And now, Grow.”

Wealth8 launched in 2021 as a wealth-management app for Black and multi-ethnic investors in Britain, with the stated aim of narrowing the UK’s ethnic wealth gap. As reported by The Condia, the platform offered individual savings accounts, general investment accounts and access to BlackRock-managed portfolios, with a minimum investment of £8. LemFi says it plans to extend these products to its broader base of internationally mobile customers.

The acquisition gives LemFi regulatory clearance to offer investment products in the UK. The company says it wants to support customers at each stage of building a financial life in a new country: sending money home, saving, establishing credit and eventually investing.

Founded in 2021, LemFi now serves more than two million customers in the United States, the United Kingdom, Canada and Europe. The Y Combinator-backed company has raised roughly $97 million from investors including Highland Europe and Left Lane Capital, and reportedly processes more than $1 billion in transactions each month. It is also expanding into Asia and Latin America.

Financial terms of the acquisition were not disclosed.

Source: UKTN