Ever heard of Lemonade Finance? Don’t get it twisted. I am quite sure you have, but maybe not as LemFi. In a few minutes you will get to know the brain behind the Fintech company that has been saving Millions of diasporans the stress of sending funds back home.  Â
Ridwan Olalere has carved a name for himself as an authority in the fintech industry, championing accessible and affordable financial services. With over a decade of experience spanning software development, digital payments, and financial technology, he is at the forefront of reshaping global remittance systems. As the CEO of LemFi, Ridwan leads a mission to simplify international transactions for underserved communities worldwide.
A Tech-Driven Foundation: From Aerospace to Fintech
Ridwan’s journey into technology began during his studies at Shenyang Aerospace University. His deep interest in software development led him to explore various digital platforms. Starting in 2011, he developed WordPress themes and worked with MyChinaals and ShenyangOnline, gaining valuable hands-on experience in web technologies.
His aerospace engineering background further honed his problem-solving skills. As a student, he expanded his expertise by writing software modules in C and Java for the aircraft industry. In his final year, he took on an ambitious project, developing a CATIA-based software that automated airplane model design using CATIA macros and VB6. This experience cemented his ability to build cutting-edge solutions, a skill that would later prove invaluable in fintech.
The Transition to Fintech
Although Ridwan began his career as a software developer, his passion for using technology to solve real-world problems soon led him into fintech. His tenure at leading companies like Flutterwave and OPay provided crucial experience in product development, digital payments, and operational efficiency. As a senior software developer and later Director of Operations, he played a pivotal role in enhancing financial transactions across Africa.
In 2020, Ridwan co-founded LemFi, a fintech company dedicated to making cross-border payments seamless. His vision was clear: to eliminate financial barriers for people in emerging markets by leveraging technology. By addressing inefficiencies in the traditional banking system, LemFi empowers users to send and receive money quickly, securely, and affordably.
Transforming Global Remittances Through Innovation
LemFi has become a game-changer in the global financial ecosystem. The platform operates in 27 send-from markets and 20 send-to countries, spanning Africa, Asia, Europe, and North America. With a growing user base of over 1 million people, LemFi processed a staggering $2 billion in total payment volume (TPV) in 2023, with monthly transactions exceeding $1 billion.
What sets LemFi apart is its cost-effective and user-friendly approach. By generating revenue through transaction fees and foreign exchange spreads, the platform maintains a sustainable model that benefits both customers and the business. Users enjoy seamless transactions, competitive exchange rates, and a financial network designed for their needs.
Scaling LemFi: $53 Million to Drive Expansion
LemFi started 2025 on a strong note, securing $53 million in Series B funding under Ridwan’s leadership. This significant financial milestone highlights investor confidence in LemFi’s growth trajectory and mission. The funding is set to accelerate the company’s expansion, particularly into European and Asian corridors, reinforcing its role as a key player in global financial services.
Behind LemFi’s success is a diverse and dedicated team. With over 300 employees across four continents, the company draws on a wealth of expertise to build solutions that resonate with users worldwide. Their shared commitment to financial inclusion fuels LemFi’s rapid growth and impact.
Making Global Transactions Effortless
For millions of people with family and friends abroad, sending and receiving money is no longer a challenge. Thanks to Ridwan Olalere and LemFi, international transactions have become more accessible, transparent, and affordable. As LemFi continues to grow, its mission remains clear: to redefine financial services and empower communities worldwide.
