LemFi, the financial platform serving people who live and work across borders, has been granted approval by the UK’s Financial Conduct Authority (FCA) to complete its purchase of Wealth8, a UK-based investment platform.
The regulatory green light enables LemFi to introduce investing and long-term wealth-building into its suite of products, representing its first move into WealthTech and a notable stage in its transformation into a platform covering customers’ entire financial lives.
Until now, LemFi’s offering has centred on cross-border money movement, credit access and savings across the UK, Europe, North America and Australia and the Wealth8 deal supplies the remaining component of helping customers grow their money over time.
The company’s push beyond remittances was already in motion. During 2025 it rolled out an Instant Access Savings Account powered by ClearBank, a high-yield product paying daily interest monthly on withdrawable balances, with promotional rates of up to 5.00% AER. However, the company notes that saving alone does not build lasting wealth, and investing is the rung of the financial ladder from which newcomers are most often shut out.
Wealth8 aims to make investing straightforward, affordable and open to communities overlooked by mainstream platforms, with entry points from just £8 and diversified portfolios. Under LemFi’s ownership, that mission will extend to the broader population of globally mobile people, pairing Wealth8’s investment know-how with LemFi’s technology and customer base of more than two million.
LemFi co-founder and CEO Ridwan Olalere said, “We started LemFi by helping people send money because that was the most urgent need. But financial progress doesn’t stop at the transfer. This approval allows us to help customers save, access credit and now invest, supporting them as they build long-term financial security wherever they call home.”
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