Lemfi hires Allen Qu, ex OPay COO to lead LemFi’s growth efforts amongst the Chinese diaspora. With over 14 years of professional experience, Allen has a track record of building multi-billion dollar companies in many countries. As the Chief Operating Officer at OPay, he led the company’s growth to Unicorn status.
LemFi, a financial technology company developing innovative international payment solutions, announced today that Allen Qu would serve as vice president of growth and lead the business’s expansion to China.
This announcement comes after LemFi’s recent milestones, which include the launch of its services in the United States and a US$33 Million Series A Capital raise led by LeftLane Capital.
Allen is no stranger to growing businesses in frontier markets. He has led the growth of companies to unicorn status, first with Beijing-based Proptech ke.com (NASDAQ:BEKE) and later with African Fintech company OPay, a financial services subsidiary of Opera Software AS (NASDAQ: OPRA).
Allen will draw from his professional wealth of experience to secure critical partnerships, grow LemFi’s customer base within the Chinese market, and innovate the product further to cater to the new audience.
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“Over 60 million Chinese diaspora worldwide, and those traditional financial companies underserve many. As a fintech company with a deep understanding of immigrants, LemFi is uniquely positioned to combine its know-how and state-of-the-art technology to bring a real change into the market.” Allen said
Ridwan Olalere, CEO & Co-Founder of LemFi
“We are excited to have Allen lead our expansion into China. Following his previous successes, we are confident in his contribution. His addition to the LemFi team is a significant step toward fulfilling our promise of international payments for everyone.”
LemFi delivers innovative services and products in various markets through its mobile app. It remains committed to offering accessible and transparent financial services to migrant communities across the globe.
Frequently Asked Questions
1. What does LemFi do?
LemFi. Send and receive money from over 12+ countries in Africa. Send money to Nigeria, Ghana, Kenya, Uganda, Tanzania, Rwanda, Senegal, Cameroon and so on. International payment products to help immigrants thrive financially.
2. Is LemFi a Nigerian company?
Nigerian fintech startup Lemonade Finance has announced its rebranding to LemFi, saying the decision to change the name was driven by a desire to simplify and capture the essence of the company’s vision and to differentiate itself in the evolving financial services landscape.
3. Who is the owner of LemFi?
LemFi’s founders, Ridwan Olalere and Rian Cochran, first joined forces in 2020 to solve these challenges with a vision to build a platform that empowers the next generation of immigrants.
4. Which country made LemFi?
It was formerly known as Lemonade Finance. The company was founded in 2020 and is based in Maidstone, United Kingdom.
5. How does lemonade finance work?
Lemonade Finance, now known as LemFi, was created in 2020 with a simple goal in mind: helping immigrants who want to make a better life for themselves. The company provides its services via an app that allows Africans in Canada, the United States, and the United Kingdom to transfer money home swiftly for free.
6. Can I convert Naira to pounds on lemonade?
Your lemonade should have naira and pounds account. You fund the naira and convert to pounds within the app.
7. Is Lemfi a bank?
LemFi is a financial technology company and is not a bank. Lemonade Technology Limited (No. 935815) is registered with the Financial Conduct Authority. Let’s say it’s a digital bank for the African diaspora.
