LemFi, the AI-powered international payments platform that builds financial products for immigrant communities, has launched Send Now, Pay Later (SNPL) — a credit-backed remittance service that allows UK customers to send money home using their LemFi credit line when it matters most.

For millions of immigrants in the UK who send nearly £10 billion home each year, unexpected expenses often clash with local earning cycles. This can delay vital transfers or push individuals towards unregulated, costly credit options. Since most remittance providers require full payment upfront, SNPL addresses a critical gap by allowing timely transfers for those new to the UK who may not yet have an established credit history.

At the heart of SNPL is LemFi’s Ensemble AI model, which analyses data from national credit bureaus, open banking systems and LemFi’s own remittance records to determine credit limits and repayment structures. The system adapts to each customer’s financial journey, using available data points to offer risk-adjusted credit that aligns with their circumstances.

Ridwan Olalere, co-founder and chief executive officer (CEO) of LemFi, said: “The rise of Buy Now, Pay Later has allowed people across the world to manage payments more flexibly, but this option has never existed for remittance, even though it is central to the immigrant experience. With Send Now, Pay Later, we’re integrating credit directly into remittance so financial support is never delayed by cash flow. It reflects our commitment to building a full-scale, AI-driven financial ecosystem that understands the challenges faced by global citizens.”

How ‘Send Now, Pay Later’ works

To use SNPL, customers are first onboarded to LemFi Credit, which provides credit lines ranging from £300 to £1,000 depending on their credit profile. Eligibility is assessed through open banking technology, enabling access even for recent immigrants who lack a UK credit history. LemFi’s system also recognises international credit footprints and uses alternative assessment methods, allowing users to start with modest limits and build their UK credit profile over time.

The company’s AI-driven decision engine evaluates multiple data points including open banking insights, bureau files, remittance behaviour and international financial records. These models help predict affordability and repayment likelihood with greater accuracy than traditional credit scoring, reducing bias that has historically excluded immigrants from mainstream financial systems. Once approved, users can send money to over 30 LemFi-supported countries immediately, with payment deferred according to their credit agreement.

Bridging the credit divide

Access to credit remains a significant challenge for immigrants in the UK. Around five million people are considered “credit invisible”, and migrants from emerging economies are disproportionately affected. Studies show that nine in ten immigrants say access to credit has become harder in recent years, while 13 per cent remain excluded from banking services compared to only three per cent of the general population. This lack of access compounds financial stress and limits upward mobility.

LemFi’s approach to credit assessment directly addresses these barriers. By combining AI analysis with real-time transfers, SNPL shortens the delays typical of traditional banking systems by a third, ensuring users can support their families despite income gaps or timing issues.

Global expansion and market growth

Following its UK debut, LemFi plans to expand SNPL to other key markets including the United States, Canada and Europe. The company currently supports over two million customers, enabling transfers to more than 30 countries across Asia, Africa, Europe and Latin America.

In January 2025, LemFi raised $53 million in Series B funding, bringing total investment to over $86 million. Its investors include Highland Europe, LeftLane Capital, Endeavor Capital and Y Combinator.

For more information, visit www.lemfi.com.

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