LemFi Acquires Bureau Buttercrane To Expand European Operations

LemFi, a Nigerian-born fintech building a financial services platform for immigrants in 22 countries, has acquired Bureau Buttercrane, an Irish currency exchange platform, to strengthen its European presence. The acquisition, approved by the Central Bank of Ireland, grants LemFi an Irish license, enabling it to operate across the European Economic Area (EEA).

This strategic move ensures LemFi’s regulatory compliance in Europe post-Brexit. While LemFi already held a UK license from its 2021 acquisition of RightCard, it previously relied on a Modulr Finance partnership to process European transactions. The Irish license now allows it to handle these transactions directly.

“This acquisition wasn’t about technology or profitability—it was about securing the right regulatory framework for expansion,” said Ridwan Olalere, LemFi’s CEO.

Founded in 2020 by Olalere and Rian Cochran, LemFi empowers immigrants to seamlessly send, receive, and manage money across borders with its multi-currency ecosystem

Following the acquisition, LemFi plans to establish Dublin as its European headquarters, hire local staff, and strengthen ties with regulators. With USD 1 B in monthly payment volume and success in Asia and Africa, LemFi is now targeting the USD 64 B European remittance market.

LemFi’s CEO acknowledges Europe’s complexity, with varying payment methods and regulations across countries. For example, in France, consumers prefer Carte Bancaire, a system outside Visa/Mastercard. Integrating such local methods will be key to success.

Backed by a recent USD 53 M Series B raise, LemFi is positioning itself as a major competitor in the remittance market. Expanding to more corridors—such as US to India and Europe to Africa—will help drive growth, increase customer retention, and establish Lemfi as a one-stop remittance solution.