There is a popular saying that “when life offers you limes, convert them into lemonade.” This was exactly what Ridwan Olalere did with the limes in the Fintech sector. He picked them and converted it to Lemonade Finance (LemFi).
Thank you for reading this post, don't forget to subscribe!Ridwan Olalere is a name popularly known for innovation and transformation in the tech and fintech industries. With over a decade of experience in building impactful solutions, Ridwan has seamlessly bridged the gap between software development and financial technology. Today, he stands as the Chief Executive Officer of a global fintech platform that is redefining financial services for underserved markets – LemFi.
A Tech-Savvy Start
Ridwan’s journey into the fintech world began with humble beginnings in tech. While still a student at Shenyang Aerospace University, Ridwan dived into WordPress theme development in 2011, gaining valuable experience working with MyChinaals and ShenyangOnline. His passion for technology led him to expand into more complex projects, from CodeIgniter development using PHP to writing modules for the aircraft industry in C and Java.
As an aircraft major in his final year, Ridwan pushed the boundaries of his education by developing a CATIA-based software to automate airplane model development, utilizing CATIA macros with VB6. This early exposure to software development laid the foundation for his future success in the tech industry.
A Strategic Shift to Fintech
His transition from tech to fintech was a natural progression, building on his extensive background in software development and product management. After a remarkable stay at companies like Flutterwave and OPay, where he honed his skills as a senior software developer and later as Director of Operations, his expertise in product development and operations made him a prime candidate to tackle the challenges of financial technology.

Photo credit: LemFi Facebook page
In 2020, the BigBang happened. Ridwan co-founded LemFi, a fintech company designed to revolutionize remittances and cross-border payments. The vision was clear: leverage technology to make financial services more accessible and affordable for global communities, particularly those in Africa and other emerging markets. The move from tech development to fintech innovation was strategic, driven by Ridwan’s desire to create meaningful solutions for underserved populations.
LemFi: Transforming Global Remittances
LemFi has since become a game-changer in the global remittance space. Since its launch, the platform has grown to operate in 27 send-from markets and 20 send-to countries across Africa, Asia, Europe, and North America. With over 1 million active users and $2 billion in total payment volume (TPV) in 2023, LemFi now processes an astounding $1 billion in monthly TPV.
The platform’s success stems from its ability to provide seamless, low-cost financial services tailored to the needs of global communities. By generating revenue from transaction fees and FX spreads, LemFi has built a sustainable model that benefits both the company and its users.
The $53 Million Milestone
The year 2025 started well with Lemfi. Under Ridwan’s leadership, LemFi recently raised $53 million in a Series B funding round. This achievement is not just a financial milestone, it’s a validation of the company’s mission and potential. The fund is said to be used to expand LemFi’s reach into European and Asian corridors, further accelerating its growth. Ridwan attributes this success to his team, a 300+ strong multicultural workforce spanning four continents. Together, they draw on their diverse experiences to create products that resonate with users across different markets.
Worried about how to receive money from your relatives abroad? Ridwan Olalere has made that very easy.
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