Africans abroad sent home $56 billion in remittances to Sub-Saharan Africa in 2024. This significant financial flow supports families, covers educational expenses, and fuels business development across the continent. With increasing migration, remittance applications face growing demands for speed, transparency, and affordability.
Users actively compare exchange rates daily and switch platforms if payouts are delayed, openly discussing their preferred services online. This competitive environment ensures that only the most effective services gain prominence.
The following list highlights seven consumer remittance startups demonstrating significant momentum as they head into 2026.
Seven Remittance Startups to Watch in 2026
1. LemFi
LemFi reports handling over $1 billion in monthly payment volume, a figure disclosed during its $53 million Series B funding announcement in January 2025. The company also processed more than $2 billion in total transactions in 2023.
The Series B round represented the largest publicly announced fintech raise from Nigeria in the first half of 2025, drawing further attention to the company. This milestone underscored investor confidence in the remittance market's potential, even amidst a cautious funding climate.
LemFi operates across North America, Europe, Africa, Asia, and Latin America. The platform supports multiple African countries as receiving destinations, with Nigeria being its largest market.
Users in Canada, the United Kingdom, and the United States can send money via the LemFi app, benefiting from competitive rates and rapid settlement times. The company has made substantial investments in its compliance infrastructure and secured the necessary licenses in its operating jurisdictions.
2. NALA
NALA secured $40 million in Series A funding in July 2024 and claims to have facilitated over $1 billion in transactions across Asia and Africa.
Founded in Tanzania by Benjamin Fernandes, NALA built trust in East Africa before expanding into Kenya, Uganda, Nigeria, and Ghana. The company now operates in 11 African countries and has recently extended its reach to the Philippines and Pakistan.
In addition to consumer remittances, NALA is developing Rafiki, a B2B payment platform designed to serve as infrastructure for other businesses. Early adopters include TransferGo, a UK-based fintech utilizing Rafiki for payouts to Africa. Transfers are completed within minutes to mobile money or bank accounts, with exact exchange rates and fees displayed upfront.
Investor backing from DST Global Partners, known for its investments in companies like WhatsApp and Spotify, indicates that sophisticated investors recognize NALA's clear growth potential.
3. Africhange
Founded in 2020 by David Ajala, a Canadian immigrant, AfriChange has developed a remittance platform that competes with venture-backed rivals while remaining bootstrapped. The company serves users across Canada, the UK, Nigeria, and Australia, with over 300,000 customers and approximately 3 million transactions processed to date.
Last year, Africhange expanded into the UK market, obtaining an Authorised Payment Institution Licence. This strategic move targets the UK-Africa corridor, where Nigeria is among the leading recipients of remittances from the UK.
In the third quarter of this year, the company partnered with Griffin to offer GBP bank and savings accounts to UK users. It also became one of the first 300 entities fully registered under Canada’s Retail Payment Activities Act.
Africhange provides remittance services across a broad range of corridors, supporting major currencies including USD, CAD, CNY, NGN, KES, GHS, INR, AUD, and GBP. The platform has introduced features such as USD virtual accounts and stablecoin funding options using USDT and USDC, alongside crypto-to-fiat payment methods.
Last year, the company also secured an International Money Transfer Operator license from the Central Bank of Nigeria. This license allows the company to handle inward remittances directly into Nigeria without intermediaries, thereby streamlining cross-border transfers for its customers.
4. Pesa
Pesa, launched in 2021, had processed over US$380 million in transaction volume as of mid-2025. The company serves diaspora users sending money from Canada, Europe, and parts of Asia and the Middle East.
In June 2025, Pesa acquired the UK-based Authoripay Emoney, which was subsequently rebranded as Pesapeer Payments. This acquisition granted Pesa full UK and EU regulatory permissions to issue e-money, operate remittance services, and provide virtual IBANs. The acquisition also enabled Pesa to issue multi-currency debit and prepaid cards.
Pesa strengthened its African presence in August 2025 by securing an International Money Transfer Operator license from the Central Bank of Nigeria. This authorization allows Pesa to operate direct remittance channels into Nigeria, offering faster settlement and improved reliability.
The company now supports transfers to markets such as Nigeria and Ghana, positioning itself as more than just a simple money-transfer application.
5. TapTap Send
TapTap Send has become one of the most widely used remittance applications for Africans residing in Europe. The company facilitates transfers across major corridors, including France to Senegal, Belgium to Côte d’Ivoire, and the United Kingdom to Nigeria.
Its growth is attributed to low fees, competitive foreign exchange rates, and reliable delivery to mobile money wallets.
The platform expanded its European presence between 2023 and 2025, adding Spain, Italy, and Germany to its sending markets. It also enhanced its coverage across West and Central Africa through partnerships with major mobile money operators. TapTap Send focuses on smaller, frequent transfers, which has been instrumental in building a strong user base within francophone communities abroad.
The company has successfully raised multiple funding rounds and continues to invest in compliance, corridor expansion, and community-led user acquisition strategies.
6. Afriex
Afriex is a remittance startup that leverages stablecoins to facilitate cross-border transfers while maintaining a user-friendly experience.
The company raised $10 million in Series A funding in 2022, with leadership from Sequoia Capital China and Dragonfly Capital. Its platform supports multi-currency transfers, enabling users to send and receive funds in hard currencies such as USD, GBP, and EUR, which helps to mitigate local currency volatility.
Afriex represents a strategic bet on the widespread adoption of stablecoins as a core infrastructure for cross-border payments. If regulatory frameworks evolve favorably, platforms built on this technology could possess significant competitive advantages.
7. Mukuru
Mukuru is a prominent player in the remittance and payments sector across Southern Africa. The company publicly states that it serves over 17 million customers globally and collaborates with MoneyGram to expand its payout network.
Its recent introduction of a mobile wallet in Zimbabwe signifies a strategic push towards digital remittances and financial services offerings. Mukuru claims to operate across hundreds of remittance corridors and to have processed tens of millions of transactions.
Partnerships with MoneyGram and WorldRemit enhance its global reach through established networks. With 20 years of operation, Mukuru combines the scale of an established entity with the adaptability required for digital transformation.