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Lemonade Finance, a Y Combinator-backed Nigerian fintech startup, has announced a USD 725 K pre-seed funding raise. The funding round included Y Combinator and VC firms, Microtraction, Ventures Platform, and Acuity Venture Partners. The round was also backed by involvement from several other individual investors.
Lemonade seeks to help Africans send and receive money from their home countries in efficient, affordable, and fast ways. The new fund will enable the team to improve its bench, strengthen the app’s features and increase the countries of coverage.