Osborne Clarke advises LemFi on its acquisition of Pillar Labs to facilitate the expansion of its credit services in the UK

International legal practice Osborne Clarke has advised LemFi, the international payments pioneer, on its acquisition of UK credit fintech Pillar Labs. The acquisition will accelerate their shared mission of empowering immigrant communities with fair, fast and accessible financial services.

Founded in 2021, LemFi was built to provide access to financial services for immigrants worldwide. Having started with payments and remittances, LemFi enables users to open multi-currency accounts and send and receive money globally, reliably and at a low cost. Following its recent $53 million Series B funding led by Highland Europe, LemFi is expanding into credit services which will be further enhanced by the acquisition of Pillar Labs, along with its founding team and FCA licence.

The Osborne Clarke team on this transaction was led by James Taylor and James MacKay and also included senior associate Adam Turner and associate Elaina Bell (Corporate), as well as Mathew Oliver and Edward Aves (Tax). Nikki Worden, Clare Burman and Mirshad Ahani provided regulatory advice.

"The Osborne Clarke team provided superb support throughout this transaction, ably navigating the particular complexities of doing a deal in this sector, enabling us to reach a successful conclusion which will power the next phase of our growth."

Rebeca Wignall, General Counsel at Lemfi

Osborne Clarke's Corporate team is considered a go-to practice for many companies in the financial services sector, working with clients ranging from global businesses to fast-growth start-ups and market challengers. The team provides advice at every stage of company development across all corporate issues, including equity and debt fundraisings, M&A, IPOs, JVs and corporate reorganisations.