Nigerian fintech Raenest has acquired Remitise, a UK-based payments company registered with the Financial Conduct Authority. The deal gives Raenest 100% ownership for an undisclosed amount. Raenest provides cross-border financial services to individuals and businesses.
Regulatory footprint
The acquisition strengthens Raenest's UK presence. Raenest already holds Money Services Business and Payment Service Provider licenses in Canada. It also holds an International Money Transfer Operator license from the Central Bank of Nigeria.
Company background
Raenest was founded in 2022 by Victor Alade, Richard Oyome, and Sodruldeen Mustapha. It raised US$11 million in a Series A round in February 2025. Total disclosed funding has reached over US$14 million.
What customers use
Raenest offers USD, GBP, and EUR accounts. It provides international transfers, virtual and physical USD cards, and stablecoin services. Customers can also access US stock investing and eligible yield products.
The deal gives Raenest ownership of a UK payments business with FCA registration. The company says it will keep building infrastructure for customers who work, earn, or do business internationally. It aims to support individuals and businesses across multiple markets.