LemFi, the platform transforming how immigrant communities access financial services, has raised $53 million in Series B funding led by Highland Europe with participation from previous investors Left Lane Capital, Palm Drive Capital, Endeavor Catalyst and Y-Combinator. The new round brings LemFi’s total capital raised to $85 million to date.

– LemFi is transforming how immigrant communities access financial services, starting with international remittance and payments to ease financial hurdles

– The platform enables diaspora communities in Europe and North America to move money reliably and affordably to emerging markets, including China, India, Kenya, Nigeria and Pakistan

– Since its launch in 2021, LemFi has grown to over one million customers and recently crossed $1 billion in monthly transaction volume

Founded in 2021, LemFi is building the trusted financial services platform for immigrant communities worldwide. Starting with payments and remittances, LemFi enables users to open multi-currency accounts and send and receive money globally, reliably and at a low cost. With over one million users across Europe and North America sending money to emerging markets, including India, Kenya, Nigeria and Pakistan, LemFi recently crossed $1 billion in monthly transactions. This is set to increase further, with LemFi adding Asia, including China, to its platform, growing 30% month-on-month.

More than remittance

Every year, millions of people relocate abroad to start new lives, and money transfers remain an important financial support mechanism to their home countries. For emerging markets, remittances are an important source of foreign exchange and can exceed foreign direct investment in some cases. In 2023, India alone received $120 billion in remittances, and the African remittance market is on track to reach $500 billion by 2035. Yet incumbent banks and private agents, which charge high commission rates and take days for transactions to complete, still corner about 60% of the market.

LemFi has become the trusted financial partner for diaspora communities in Canada, the UK and the USA, who send money home to 20 countries. After spending four years building trust among its user base, LemFi is now in the perfect position to provide further services and features to build a full-stack financial services hub for immigrants globally.

From payments to transforming financial services

LemFi’s founders Ridwan Olalere (CEO) and Rian Cochran (CFO) met whilst working at fintech unicorn OPay, incubated by Norwegian browser provider Opera. Olalere had previously worked in software development before becoming OPay’s product lead, where he met Cochran, the company’s finance director. After Olalere left for a stint as an Uber Country Manager, the duo combined their experiences across fintech and payments to build LemFi. They now oversee a 300+ strong multicultural team across Europe, North America, Africa and Asia, drawing on their own experiences to make financial services universally accessible.

Using the new funding, LemFi will focus on growing the company in three core areas: building out the platform to extend its financial services offering, scaling its payment network licenses and partnerships to provide hyper-localised service, and hiring talent globally to support its next growth stage.

Ridwan Olalere, co-founder and CEO of LemFi, said: “When we started building LemFi, we were told remittance had already been solved. But for too many people, it is still too slow, cumbersome and expensive with customers telling us that in some instances it was cheaper to send money from the US via Canada than directly to their families back home. By targeting the communities most in need, we’ve built LemFi into the go-to remittance service for one million people, supporting them in building wealth across 20 countries. We’re not stopping there: this new funding will support us in our mission to build the financial services hub for immigrants globally from adding new features to expanding to new countries. We’re delighted to be partnering with Highland to help us scale LemFi into a fintech giant.”

Sam Brooks, Partner at Highland Europe, said: “LemFi’s mission to provide trusted, reliable access to financial services for immigrant communities has inspired an incredibly loyal customer base and has generated impressive growth over the past several years. In addition to the success in initial geographies, we are excited by LemFi’s continuing international expansion given the extent of the global problem they are solving. Ridwan and Rian are fantastic leaders, and we are thrilled to partner with them and the LemFi team to help them scale and continue their growth into new markets.”

ChooseApp the game-changing platform created by media professionals, is disrupting the mobility industry with 15,000 downloads in just 10 days. The App lets you instantly compare cab prices, wait times, and reviews across multiple services, making travel affordable, reliable, and stress-free.

From Frustration to Innovation: The Story Behind ChooseApp

Finding a ride at the right time and price has become a real challenge. With so many options and fluctuating rates, it can often be a frustrating experience. Meet the three individuals who didn’t just endure the frustration of finding reliable rides amidst the whole saga of rebookings and cancellations—they wanted to tackle this common problem, not only for themselves but for millions of others facing the same struggle.

Click on the link to download the app

Close friends, colleagues, and seasoned media professionals Shyameli Dutta, Nishant Sapkale and Vinita Nair have always thrived on creative storytelling through their production house, Box Office Entertainment. While they thrived in the media world, they faced a recurring challenge that most travelers can relate to: finding reliable, affordable cabs during their shoots.

With over a decade of experience producing television commercials, online advertisements, documentaries, and national TV shows, the trio has brought countless stories to life. But behind the scenes, another story brewed—one rooted in a common challenge. With tight budgets and large crews to manage during their travels for shoots, the trio often faced the frustrating challenge.

Vinita explains, “Traveling with large teams for shoots means managing tight budgets while ensuring everyone’s comfort and safety. But finding a dependable cab service was always a struggle. Prices varied, reviews were inconsistent, and hopping between multiple apps made it even more frustrating.”

As the trio shared their frustrations with friends and colleagues, they realized they weren’t alone. There was no single platform to compare prices, wait times, or availability across multiple ride-hailing services, especially when it came to local taxis.

Determined to fix this problem, the trio teamed up to create ChooseApp, a platform designed to simplify mobility by enabling users to compare fares, ETA, and reviews across all major ride services, including local taxis.

As Shyameli puts it, “ChooseApp brings all types of transportation together in one place. Whether it’s a city ride or an outstation trip, we’ve partnered with top cab services to ensure even those in smaller towns have multiple ride options. Our goal is to make travel affordable, reliable, and stress-free for everyone.”

Download the app, available on both iOS App Store and Android Play Store

The Origin of ChooseApp’s Name and Mission

Founded in 2024 in Mumbai, ChooseApp is the first of its kind in India, changing the way people move. The app is designed to offer affordable, reliable, and easy travel for every Indian—whether it’s booking a ride within the city, across cities, or to newer locations.

ChooseApp simplifies cab, auto, and bike bookings by empowering users to compare fares, wait times, and reviews across multiple service providers—all in one place. With just a few taps, customers can choose the most cost-effective, quickest, and trusted ride option that suits their needs.

ChooseApp has partnered with leading mobility players, including Uber, Ola, Gozo, Meru, Rapido, Namma Yatri, Savaari, and many others. Additionally, under its parent company, NVS Choose Cabs India Private Limited, ChooseApp is now a part of the ONDC network, further strengthening its aggregator ecosystem.

ChooseApp has also tied up with hyperlocal top delivery providers like Porter, Borzo, and others, offering future-ready parcel services. Now, users can compare and make better choices among delivery services with just a few clicks.

ChooseApp’s Impressive Growth and Future Potential

The phenomenal growth of ChooseApp has not gone unnoticed. Although it started out self-funded, the team is now seeking to partner with investors who share their ambitious vision to scale the app and revolutionize international mobility, beginning with an expansion into the UAE.

In an exclusive interview Nishant shares, “ChooseApp received an overwhelming response at launch. We hit 15,000 downloads in just 10 days on both the Play Store and App Store, with over 1,000 active daily users across India. Such growth inspires us to keep moving forward.”

And that’s not all—ChooseApp is launching an online web booking portal for users who prefer to book via browsers. This added accessibility will cater to users who either haven’t installed the app or aren’t tech-savvy enough to navigate mobile apps easily.

ChooseApp is also set to introduce a parcel delivery service within the app. Now, users will be able to compare and choose among India’s top local delivery service providers, including Porter, Borzo, and Shiprocket, all in just a few clicks.

Click on their website and download the app here – https://chooseapp.in/

SRAM & MRAM Group Joins Hands with Paradigm Pictures to Redefine Entertainment

In an exciting move for the M& E industry, global conglomerate SRAM & MRAM Group announced its merger with renowned film production company Paradigm Pictures AD Ltd. The grand unveiling of this partnership took place at Warren House, marking the start of a unique collaboration that blends luxury, technology, and storytelling.

A Bold Vision for Entertainment

Dr. Sailesh L. Hiranandani, Chairman of SRAM & MRAM Group, and Mr. Arvind Dharmaraj, Chairman of Paradigm Pictures, were present at the event. This merger represents SRAM & MRAM’s entry into the entertainment sector, combining its technological expertise with Paradigm Pictures’ creative storytelling to introduce a new era of cinematic excellence.

The Power of SRAM & MRAM Group

SRAM & MRAM Group is a global leader running businesses in technology, finance, healthcare, energy, and infrastructure.

Dr. Hiranandani shared their ambitious plans, saying, “We aim to create a world-class film city that merges cutting-edge technology with top talent from Europe and the US to revolutionize storytelling.”

The Upcoming 50-Acre Film City

A key highlight of this merger is the proposed development of a state-of-the-art, 50-acre film city. Designed to be a global benchmark, the facility will include:

• World-Class Studios: Advanced VFX facilities, along with top-notch dubbing and editing suites.
• Luxury Preview Theatres: Five Dolby Atmos-equipped theatres for press screenings and exclusive previews.
• Opulent Lodging: Ten premium resorts with private pools for celebrities and high-quality accommodations for film crews.
• Recreation Spaces: Cafés, pubs, conference halls, and event venues for launches and celebrations.

Paradigm Pictures: A Force in Storytelling

At the event, Paradigm Pictures showcased its Cannes award-winning short film. Known for gripping stories like V1 Murder Case and Harkara, which achieved massive streaming milestones on Amazon Prime, the studio has firmly established itself in global cinema.

With seven projects in the pipeline, Paradigm Pictures continues to push creative boundaries, building impactful narratives that resonate with audiences.

Big Plans for Pan-Indian and Global Productions

The merged entity will kick off its first slate of five films once the film city begins construction. These projects, inspired by novels and real-life stories, will feature celebrated actors from across the globe and combine traditional storytelling with global filmmaking techniques.

The partnership also aims to expand into the European and American markets, showcasing talent on an international platform.

Collaborating on the Nordic Casefiles Trilogy

As part of the merger, the alliance with RingDance Entertainment will bring the Nordic Casefiles trilogy to life. This includes:

• RUUD & MILD: Nordic Casefiles (Game): An interactive mystery-solving experience.
• BIRD WHISPERER (TV Series): An exploration of Scandinavian crime stories.
• PARISTAN (Feature Film): A gripping tale of a father searching for his missing son in Stockholm.

An Evening to Remember

The event was graced by dignitaries from BBC, Netflix, and associates of Oscar-winning director Danny Boyle. Awards were presented to honour contributions to technology, the arts, and sustainability.

A New Chapter in Global Entertainment

This merger between SRAM & MRAM Group and Paradigm Pictures marks a transformative moment in the entertainment industry. With innovative projects and a world-class film city in the works, the collaboration promises to captivate audiences across the globe.