By Adedapo Adesanya
As part of efforts to build the biggest neobank for African immigrants, Lemonade Finance has announced the expansion of its footprints to seven new markets in Africa – Senegal, Ivory Coast, Benin Republic, Cameroon, Tanzania, Rwanda and Uganda.
This integration means users of Lemonade Finance in the United Kingdom or Canada can send money to any of these countries.
The development makes it possible for Africans in the diaspora to easily send money to their families back home with no hassles at the lowest possible rates.
Speaking on this, Mr Afeez Gbotosho, Lemonade’s head of products noted, “The addition of Senegal, Ivory Coast, Benin Republic, Cameroon, Tanzania, Uganda and Rwanda was data-driven,” noting that, “These seven countries have nationals abroad who often need to send money back home.”
He, however, explained that knowing what the data said was one thing—actually making it happen was another, “The integration took fairly long because of quality assurance and integration certification.”
“We have a quality assurance process that we follow for all integrations. For Africa integrations, we also have an integration certification process which involves a fair bit of documentation,” he added.
Looking at the future, Lemonade Finance hopes to further scale its plan to be a global neobank for Africans abroad.
“As we continue to grow our global presence, we will continue to focus on evaluating our data to identify countries that would be beneficial to integrate. Until then, we welcome all the nationals of our six new countries onboard and we invite them to send money home right away when you download the Lemonade app on Google Playstore and App store,” a statement read.
The company also announced that it has made its transfers faster and more efficient following the convergence of all the corridors it supports into a single service endpoint.
