Fintech company Lemonade Finance has rebranded to LemFi, as part of its expansion plan to enter into new territories.
The company stated that it wanted a unique approach, so it decided to find a simple yet powerful way to set itself apart from the other players in the fintech space, which will enhance the brand’s identity. The recent branding also comes with a new typeface and a website.
Speaking on the rebranding, Lemonade Finance country manager Precious Ama Kwartemaa Oduro said,
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
“There are many players in our space, we needed something simple that will also help us stand out even as we look to do more. Now the business is going to provide International payments for everyone. Before, it was international payments for immigrants in the diaspora. Immigrants like our family and friends have gone to seek opportunities in the diaspora.
“I believe as a company, we have reached a point where we are trying to extend our operations beyond Africa. We are actually going global. So we felt it was right to rebrand and that’s a fresh start.”
Kwartemaa further stressed that the rebranding will help reposition the business as the preferred choice for all consumers, adding that it will differentiate the brand from others and also simplify the brand’s identity.
Speaking on the new name, she said it will bring on board new products as well as maintain the fintech’s core service of providing the best remittance solutions.
In her words, “We are going to maintain whatever we’re doing and include a few additions. Our services remain the same. Because remittance is our call service for now; we are still going to stick to providing the best remittance solutions to Ghanaians. But the only difference will be a change in our name and brand identity.”
Apart from expanding its payment services to other countries, LemFi will be launching additional products and services to make cross-border transfers convenient for all.
Founded in 2020 by Ridwan Olalere, Lemonade Finance was built to be a borderless money app for Africans. To allow Africans to use their money seamlessly, Lemonade Finance has provided them with access to currencies that matter to them, notably the currency of the country they are in and that of their home country. This is a big deal for Africans in the diaspora who have businesses in Africa but want to move their money to foreign currencies.
The company offers local and international transfers to Ghana, Kenya, Nigeria, Canada, and the United Kingdom (UK) instantly without hidden fees, and makes international transfers at the real market exchange rate.
In 2022, it expanded to 7 new markets Senegal, Ivory Coast, Benin Republic, Cameroon, Tanzania, Rwanda, and Uganda. The new expansion opened it to a larger share of the African market, keeping its promise to build the biggest neobank for African immigrants.