LemFi has announced the acquisition of Pillar, a UK-based fintech focused on credit access for immigrants. As a result of this acquisition, LemFi will launch specialised credit cards designed especially for immigrant communities.
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In 2022, Pillar raised £13M ($16.9M) in pre-seed to develop a platform for immigrants to access credit products when they move to a new country. LemFi will inherit this tech as part of the acquisition, becoming the first major remittance platform to offer credit as a core product. The deal, already approved by the FCA, also sees Pillar’s co-founders and Revolut alumni Ashutosh Bhatt and Adam Lewis join the LemFi team.
Ridwan Olalere, LemFi co-founder and CEO, says, “We have long stated our vision of building a full-stack financial service for immigrants everywhere. Credit marks the next frontier for us in this journey. Rian and I are particularly pleased that Adam and Ash have agreed to join us in building it.”
“Through LemFi Credit, we already provide our existing customers with the ability to grow their credit right within the LemFi app”, Ridwan continues “With this acquisition, we plan to offer Credit Cards to customers, starting with the United Kingdom.”
Since its founding, LemFi has supported over 2 million customers in the United States, the United Kingdom, Canada, and Europe. In January 2025, LemFi secured $53 million in Series B funding, bringing its total funding to over US$86M, involving some leading investors, including Highland Europe, LeftLane Capital, Endeavor Capital, and Y-Combinator.
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Also Read: Nigerian Fintech, LemFi, Raises $53 Million in Series B Funding
