Allen Qu will take over as Vice President of Growth at LemFi and spearhead the company’s entry into the Chinese market.
This was disclosed in a statement from Ridwan Olalere, CEO & Co-Founder of LemFi.
Allen has a history of creating multibillion-dollar businesses across numerous nations.
In his capacity as OPay’s COO, he oversaw the business’s expansion to unicorn status.
Following LemFi’s recent successes, which include the introduction of its services in the US and a US$33 million Series A capital investment spearheaded by LeftLane Capital, comes this statement.
LemFi asserts that via its mobile app, it provides cutting-edge services and goods in some areas.
It is still dedicated to providing migrant communities worldwide with transparent and easily accessible financial services.
“We are excited to have Allen lead our expansion into China. Following his previous successes, we are confident in his contribution. His addition to the LemFi team is a significant step toward fulfilling our promise of international payments for everyone,” Olalere said.
He added that Allen will use his extensive professional background to forge important alliances, expand LemFi’s clientele in the Chinese market, and further develop the product to appeal to the target market.
“There are over 60 million Chinese diaspora over the world, and many of them are underserved by those traditional financial companies.
“As a fintech company with a deep understanding of immigrants, LemFi is in a unique position to combine its know-how and state-of-the-art technology, to bring a real change into the market,” Allen said.
Last year raised a $33 million Series A round led by Left Lane Capital. Other investors included Y-Combinator, Zrosk, Global Founders Capital, and Olive Tree.
