We Are Expanding to Australia
AUSTRAC, Australia's financial intelligence and regulatory authority, has formally authorised us to operate as an independent remittance dealer in Australia. The approval marks a significant milestone in our global expansion and clears the way for us to offer our renowned remittance services directly to customers resident in Australia.
In addition to serving Australia's diverse communities through cost-effective, reliable international payment services, this approval signals trust in our compliance and operational systems.
Why We Are Expanding to Australia
Australia's migrant population has grown rapidly, now accounting for 31.5% of the total population, or 8.6 million people, following record net overseas migration over the past two years. Migrants also contribute USD $330 billion (AUD $480.5bn) to Australia, and outbound remittances from Australia have surged, with USD $38.2 billion (AUD $56.6bn) sent overseas in 2024 alone.
The recipients of these remittances include many of the key markets we serve: India stands as the single largest recipient, receiving $7.3 billion in remittances from Australia in 2024, followed by China at $5.35 billion. Other major remittance corridors include Vietnam, the Philippines, Pakistan, Kenya, and Nigeria.
The recipients of these remittances include many of the key markets we serve: India stands as the single largest recipient, receiving $7.3 billion in remittances from Australia in 2024, followed by China at $5.35 billion. Other major remittance corridors include Vietnam, the Philippines, Pakistan, Kenya, and Nigeria.
The Significance of AUSTRAC's Approval & Australia
"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," said Rebeca Wignall, Chief Legal Officer at LemFi.
"Australia is a critical remittance corridor, and demand continues to grow alongside migration," added Mamadou Mareme Diop, VP of Remittance at LemFi. "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."
Over 2 million customers across North America and Europe already trust us to move money to more than 30 countries worldwide. Our commitment is to make it seamless for Australian residents to send money at competitive exchange rates, with reliable transfers and low-cost fees.
Our Mission Remains the Same
Australia is the latest addition to our expanding regulatory and geographic footprint, alongside licences and approvals in the UK, Europe, the US, and key remittance corridors across Africa and Asia. This expansion supports LemFi's broader mission to build a full financial ecosystem for immigrants, spanning remittances, savings, and credit, designed around the realities of global mobility.
