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.
Lemonade Finance was founded in 2020 to empower immigrants seeking to achieve more in their lives. The company delivers its services through an app that enables users to send money to more than 10 countries.
“The name we started with was Lemonade Finance. And as our app gained popularity, our reach expanded across multiple countries, and we became the vital link between families and loved ones separated by distance,” said Ridwan Olalere, the startup’s CEO and co-founder.
However, the company’s growth and evolution demanded a name that would resonate even more deeply with its purpose, while embracing the uniqueness of its community. The decision to rebrand was made to better encapsulate the vision of providing a more inclusive and efficient means for people to send money home.
So, the company is now LemFi, a name it feels embodies the spirit of “No Borders, No Barriers and no BS”. It said the new name reflects the company’s dedication to simplicity, agility, and accessibility while retaining its commitment to facilitating seamless financial transactions for its users.
“Our new name, LemFi, represents our unwavering dedication to breaking down barriers and transcending borders,” said Olalere. “It symbolises the strength and resilience of our community and allows us to carve our own unique meaning within it.”
The rebrand also comes with an expansion of vision. Hitherto, the goal was to power “International Payments for immigrants globally”; now LemFi aims to deliver “International Payments for Everyone”. This commitment will be demonstrated by unveiling an exciting lineup of product updates in the coming weeks and months.