LemFi, a financial platform serving people living across borders, has launched a new global brand, ‘Ambition has no passport’, alongside a redesigned app and an expansion of its financial services.

The company said the expansion was its largest product development since its establishment, extending its services beyond international money transfers to include savings and credit in the United Kingdom and eSIM services in more than 100 destinations.

LemFi currently serves more than two million customers who transfer money to over 30 countries. The company processes more than US$2 billion in monthly transaction volume and plans to expand its country coverage next year.

The expansion is aimed at addressing the financial challenges faced by people living and working outside their countries of origin, including difficulties accessing credit and maintaining financial records across borders.

According to the company, many migrants arrive in new countries with professional qualifications, work experience and savings histories but find that their existing financial records are not recognised in their new locations.

An estimated 304 million people live outside their countries of birth, sending approximately US$905 billion to their home countries annually.

LemFi said its expanded platform was designed to support customers whose financial responsibilities and activities span multiple countries.

"We started LemFi because sending money home was broken. What we learned is that the harder problem starts after the transfer," said Ridwan Olalere, co-founder and Chief Executive Officer of LemFi.

"Our customers are building careers and businesses in one country while supporting people in another, and the financial system treats them as if they can only exist in one place at a time. That is the wrong answer for people this ambitious, so we have rebuilt LemFi to work the way their lives do. Ambition travels. The infrastructure behind it should travel too," he added.

Expanded financial services

The expanded platform retains international money transfers as its core service while introducing additional products to meet customers’ financial needs.

In the UK, the company has introduced an Instant Access Savings Account offering a boosted interest rate of 5% annual equivalent rate (AER) for the first six months after account opening. The rate subsequently reverts to 3.04% AER, tracking the Bank of England base rate.

Customers can open accounts with a minimum of £1 and withdraw their funds without penalties. Deposits are held by ClearBank and are protected by the Financial Services Compensation Scheme (FSCS), subject to eligibility and applicable limits, up to £120,000 per eligible depositor.

LemFi has also introduced a revolving credit line in the UK, subject to availability and eligibility. The service is provided by LemFi Credit through Pillar, an FCA-regulated credit provider acquired by LemFi in 2025.

The credit facility is available as a virtual card through Apple Pay and Google Pay, allowing eligible customers to make payments and send money. Customers can also access their Equifax credit scores free of charge through the app.

Another addition is an eSIM service that allows customers to purchase mobile data for more than 100 destinations without changing physical SIM cards or incurring conventional roaming charges.

Redesigned app and global brand

The company said its app had been rebuilt to accommodate multiple financial products across different countries within a single account.

The redesign brings the various services together in one interface, making them easier for customers to access while providing a platform for future product additions.

The new global brand, ‘Ambition has no passport’, reflects the company’s focus on people building careers, businesses, families and financial lives across national borders.

The identity will be rolled out across LemFi’s app, website, marketing materials and social media channels in its global markets.

Isabel Ron-Pedrique, Vice President of Design and Brand at LemFi, said the new identity reflected the experiences and ambitions of its customers.

"LemFi started as a way to send money home. Our customers turned it into a way to build a life across borders," she said.

"They are not defined by the country they left. They are defined by what they are building. Ambition has no passport is not a line we placed on top of the product. It is the idea the whole system is built from, from the app you open in the morning to the poster you walk past on the way to work. We have built this brand to keep up with them," she added.

LemFi said savings and credit services were available in the UK at launch, with expansion into other markets planned for the future.