LemFi has achieved significant milestones, including processing over $1 billion in monthly payment volume and recording $2 billion in annual transaction volume in 2023.
The CEAC was created as a cornerstone of Senegal’s Startup Act, which was ratified in 2021 by President Macky Sall following its 2020 adoption by the National Assembly.
The fund will target startups from seed through Series B rounds, focusing on online-to-offline (O2O) platforms, B2B SaaS solutions, and fintech ventures.
The fund will target startups from seed through Series B rounds, focusing on online-to-offline (O2O) platforms, B2B SaaS solutions, and fintech ventures.
For these companies — names like Chipper Cash, LemFi, Flutterwave, and TapTap Send — a 5% tax on remittances out of the U.S. would have fundamentally altered their business models.
