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LemFi, a leading AI-powered international payments platform focused on financial solutions for immigrant communities, has launched Send Now, Pay Later (SNPL) — a first-of-its-kind credit-enabled remittance service that allows users to transfer money to loved ones instantly while deferring payment.
The service, powered by LemFi’s proprietary Ensemble AI model, enables over two million global customers to use their LemFi credit line to send funds home, addressing a critical financial gap for immigrants facing irregular income cycles and limited access to traditional credit.
Tackling the Cash Flow Challenge
Immigrants in the UK remit nearly £10 billion annually, yet many struggle with mismatched timing between expenses abroad and local earnings. Traditional remittance providers typically require immediate payment, forcing users to either delay transfers or seek costly, informal lending options. LemFi’s SNPL bridges this gap by allowing users to send money when needed and repay later — a solution tailored to immigrants with limited or no UK credit history.
AI-Powered Credit Decisions
At the core of SNPL is Ensemble AI, a decisioning engine that aggregates multiple data sources — from credit bureaus and open banking data to LemFi’s internal remittance records — to assess affordability and determine credit limits. The model dynamically adapts to each user’s financial journey, tailoring credit evaluations based on available data while reducing bias that often excludes immigrants from mainstream financial systems.
“With Send Now, Pay Later, we’re embedding credit directly into the remittance experience,” said Ridwan Olalere, Co-founder and CEO of LemFi. “It ensures that financial support for families isn’t delayed by cash flow timing. This innovation reflects our commitment to building a full-stack, AI-driven financial ecosystem designed for global citizens.”
How the Service Works
To access SNPL, customers first onboard through LemFi Credit, which offers credit lines ranging from £300 to £1,000based on individual eligibility. Using open banking technology, LemFi evaluates users’ creditworthiness — even recognising international credit footprints — enabling newcomers to the UK to access credit and gradually build their financial profiles.
Once approved, users can send money to any of 30+ supported countries across Africa, Asia, Europe, and Latin America. Transfers are processed instantly, while senders repay at a later date according to their repayment plan.
Bridging the Global Credit Divide
LemFi’s innovation comes amid growing challenges for immigrants in accessing mainstream financial services. An estimated five million UK residents are considered “credit invisible,” with immigrants disproportionately affected — 13% of migrants remain excluded from banking, compared to just 3% of the wider UK population.
By leveraging AI-driven insights and alternative credit data, LemFi aims to democratise access to finance, improve credit inclusion, and make cross-border remittances faster and more affordable.
Expansion Plans and Growth Momentum
Following its UK debut, LemFi plans to roll out SNPL across the United States, Canada, and Europe. The company, which already serves over 2 million customers globally, has been rapidly expanding its reach in key immigrant markets.
Earlier this year, LemFi raised $53 million in Series B funding, bringing total investment to over $86 million from leading investors including Highland Europe, LeftLane Capital, Endeavor Capital, and Y Combinator.
With SNPL, LemFi continues to redefine the intersection of AI, credit, and cross-border payments, empowering immigrant communities to support their families with greater financial flexibility and security.
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