LemFi, a global remittance and financial services company, has announced its entry into the Australian market, bringing trusted and cost-effective international money transfer services to millions of migrants living in the country. The expansion follows formal authorisation by AUSTRAC, Australia’s financial intelligence and regulatory authority, allowing LemFi to operate as a licensed remittance dealer.
This milestone is a key part of LemFi’s global growth strategy and reflects confidence in its compliance systems and operational strength. With AUSTRAC approval, the company can now serve Australian residents directly, offering secure, transparent, and affordable cross-border payment services.
Australia is home to a large and diverse migrant population, representing 31.5 % of the total population—about 8.6 million people—due to record high levels of net overseas migration in recent years. Migrants play a significant role in the Australian economy, contributing an estimated USD $330 billion (AUD $480.5 billion). Outbound remittances from Australia reached USD $38.2 billion (AUD $56.6 billion) in 2024, highlighting strong demand for international payment solutions.
Many of the top remittance corridors from Australia align with LemFi’s existing service routes. In 2024, India was the largest recipient of remittances from Australia, receiving $7.3 billion, followed by China with $5.35 billion. Other key destinations include Vietnam, the Philippines, Pakistan, Kenya, and Nigeria, underscoring the need for reliable and efficient remittance services linking Australia with countries in Asia and Africa.
Rebeca Wignall, Chief Legal Officer at LemFi, said the AUSTRAC approval demonstrates the strength of the company’s compliance framework and opens the door for it to support migrated communities in Australia with secure and accessible financial services.
Mamadou Mareme Diop, Vice President of Remittance at LemFi, added that Australia is a critical remittance corridor with growing demand. He noted that the expansion enables LemFi to offer its trusted, customer-focused remittance experience to a market where such services are essential to millions of people.
LemFi already serves more than two million customers across North America and Europe, enabling transfers to over 30 destination countries worldwide. With its launch in Australia, the company aims to provide local users with seamless transfers, competitive exchange rates, and low fees, backed by reliable delivery.
Australia becomes the latest market in LemFi’s increasing global regulatory footprint. The company holds licences and approvals in the United Kingdom, Europe, the United States, and major remittance regions in Africa and Asia. This expansion aligns with LemFi’s broader mission to build a comprehensive financial ecosystem for immigrants, offering not only remittances but also savings, credit solutions, and other mobility-focused financial services.