London-based remittance company, LemFi, has obtained regulatory approval from the Central Bank of Ireland to acquire Irish payment firm, Bureau Buttercrane, as it continues to expand its European footprints.
According to a statement, LemFi will inherit Bureau Buttercrane’s existing Payment Institution license (CBI reference number: C182347), allowing it to offer an extended range of financial services in the European Economic Area (EEA) region. These services include but are not limited to payment account issuance, money remittance and more.
This move continues LemFi’s commitment to providing seamless and efficient services while complying with the regulatory frameworks set by the relevant authorities.
The company which recently completed a $53 million Series B fundraise will continue to pursue its global expansion goals, staying true to its vision of building the future of financial services and products for immigrants everywhere.
In 2021 it acquired UK-based RightCard Payment Services Limited, securing an Electronic Money Institution (EMI) License in the process and in 2023, it secured a pivotal International Money Transfer Operator license (IMTO) from the Central Bank of Nigeria (CBN).
Just last year, the company expanded into Ghana and Kenya, allowing it to enter into partnerships with multiple partners.
Late in 2024, LemFi launched its services in select European countries through a strategic partnership. Providing minutes transfers at the best value to recipients in over 20 countries in Asia, Europe and Africa.
Speaking on the deal, Ms Rebeca Wignall, General Counsel at LemFi said, “We are very pleased to have completed this acquisition and are particularly delighted by the possibilities this offers us at LemFi.
“We also extend a note of gratitude to the Central Bank of Ireland (CBI) and the legacy team at Bureau Buttercrane for their role in seeing this through,” she added.