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    Nigeria’s Lemonade Finance expands to 7 new markets

    Lemonade Finance is a Nigerian fintech startup that allows users to send money to Senegal.

    Ridwan Olalere & Rian Colchran founded the company in 2020. participant in Y Combinator’s W21 batch last year, Lemonade Finance it allows Africans living abroad to send money from their home countries quickly, efficiently, and affordably. It is easy to use Users can easily convert between currencies by holding their balances in the currency that matters to them..

    The company already offers international and local transfers to Ghana, Kenya and Nigeria immediately without hidden fees. It also makes international transfers at the actual market exchange rate.

    Lemonade users from Canada and the UK now have the ability to send money to Senegal. This new integration opens Lemonade Finance to a larger share of the African market, and cements its promise to “build the biggest neobank for African immigrants”.  

    “The addition of Senegal, Ivory Coast, Benin Republic, Cameroon, Tanzania, Uganda and Rwanda was data-driven. These six countries have nationals abroad who often need to send money back home,” said Afeez Gbotosho, Lemonade’s head of products.

    Lemonade claims it has thousands users in North America, Europe and Asia as a result its participation with Y Combinator Raised a pre-seed funding round of US$725,000It featured Microtraction, Ventures Platform and Acuity Venture Partner.

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