Lemonade Finance

Maker

Hi everyone, We are excited to share Lemonade - a digital bank for the African diaspora. We started lemonade finance to help immigrants with their personal banking and business banking needs in North America & Europe. Our story: @rian_cochran and I helped build some of the biggest startups in Africa - Flutterwave, and OPay. While working at these companies, one of the patterns that stood out to us was that Africans were paying up to 30% more than the global average to move money abroad, and most African countries are only enabled to receive, but unable to send. Zooming out on the problem, we saw the same was true for the diaspora - though their needs were greater. As we started, we discovered remittance wasn't enough for the diaspora: there's limited access to African currencies abroad, it's difficult to open and maintain accounts back home, getting money out of Africa is a challenge, the size, and frequency of their transactions is much greater. Our solution: Lemonade helps African diaspora open accounts in their country of residence in North America as well as manage bank accounts in Africa to send and receive money in one app. Traction: We have over 8,000 users with license coverage in the UK, Canada, and the US.

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4yr ago