The milestone marks a significant step in LemFi’s global growth strategy and signals regulatory confidence in its compliance and operational systems.
LemFi has announced its expansion into Australia after receiving formal authorisation from AUSTRAC, the country’s financial intelligence and regulatory authority. The approval allows the company to operate as an independent remittance dealer and offer its international money transfer services directly to customers residing in Australia. The milestone marks a significant step in LemFi’s global growth strategy and signals regulatory confidence in its compliance and operational systems.
The expansion is aimed at serving Australia’s diverse migrant communities with cost-effective and reliable international payment services. Australia’s migrant population now represents 31.5% of the total population, or 8.6 million people, following record net overseas migration in recent years. Migrants contribute an estimated USD $330 billion (AUD $480.5bn) to the economy, while outbound remittances from Australia reached USD $38.2 billion (AUD $56.6bn) in 2024.
Key remittance destinations from Australia align closely with LemFi’s existing service corridors. India is the largest recipient, receiving $7.3 billion in remittances from Australia in 2024, followed by China at $5.35 billion. Other major corridors include Vietnam, the Philippines, Pakistan, Kenya, and Nigeria, reflecting strong demand for cross-border payment services linking Australia with Asia and Africa.
“Receiving AUSTRAC approval reflects the strength of our compliance framework and allows us to support Australia’s diverse migrant communities with secure, transparent, and accessible financial services.”
– Rebeca Wignall, Chief Legal Officer, LemFi
“Australia is a critical remittance corridor, and demand continues to grow alongside migration. This approval allows us to bring LemFi’s trusted, customer-first remittance experience to a market where these services are essential to millions of people.”
– Mamadou Mareme Diop, VP of Remittance, LemFi
LemFi noted that more than two million customers across North America and Europe already use its platform to send money to over 30 countries worldwide. The company aims to provide Australian residents with seamless transfers at competitive exchange rates, backed by reliable delivery and low-cost fees.
Australia becomes the latest addition to LemFi’s expanding regulatory footprint, complementing licences and approvals across the UK, Europe, the United States, and key remittance markets in Africa and Asia. The move supports the company’s broader mission to build a comprehensive financial ecosystem for immigrants, covering remittances, savings, and credit solutions tailored to global mobility needs.
