LemFi Acquires Pillar to Transform Immigrant Financial Services

LemFi, an international payments platform focused on immigrant communities, has acquired UK-based credit fintech Pillar to enhance its financial service offerings. With this acquisition, LemFi seeks to address the credit invisibility challenge faced by many immigrants by integrating specialized credit services into its core platform. The acquisition brings Pillar's proprietary credit scoring technology and FCA credit license into LemFi's ecosystem, making it the first major remittance company to offer credit as a central product. This strategic expansion aligns with LemFi's mission to create a comprehensive financial platform for immigrants worldwide. The acquisition was significantly backed by Highland Europe's recent $53 million Series B funding. The deal also sees Pillar's co-founders, who are former Revolut employees, joining the LemFi team, thus further strengthening its focus and capabilities in financial services for immigrants. LemFi currently operates with over two million customers across multiple continents with a strong focus on expansion into Asia and Latin America.