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Nigerian FinTech Raenest has acquired Remitise, a UK payments company registered with the Financial Conduct Authority (FCA).
The deal strengthens Raenest’s UK presence and adds to its existing regulatory licences, including an International Money Transfer Operator (IMTO) licence in Nigeria and Money Services Business (MSB) and Payment Service Provider (PSP) registrations in Canada.
Remitise aims to improve the remittance process by focusing on trust and reliability. The platform was developed as a response to shortcomings in traditional money transfer methods.
The company also works to establish a network of trustworthy affiliates, emphasising the importance of sending money through reliable channels. However, the financial terms of the acquisition were not disclosed.
“Raenest began by making it easier to get paid from abroad. Four years on, it has grown into a global financial platform that helps people and businesses receive, send, spend, save and grow money across borders. The vision has always reached further: to build the financial infrastructure for a world where opportunity isn’t limited by geography,” said Raenest.
Founded in 2022 by Victor Alade, Richard Oyome and Sodruldeen Mustapha, Raenest was built to solve the problem of receiving money from abroad, a process that was far more complex than it needed to be for freelancers, remote workers and businesses doing international work.
The platform has since grown to offer USD, GBP and EUR global accounts, international transfers, virtual and physical USD cards, USDC and USDT stablecoin services, US stock and ETF investing, and yield products.
Raenest now serves more than 1.5 million registered customers and has processed over $3 billion in lifetime transaction volume.
In February 2025, Raenest raised an $11 million in Series A led by QED Investors, bringing its total disclosed venture funding to over $14 million.
The acquisition of Remitise brings Raenest’s UK operations under its own roof, giving it direct access to FCA-registered payment infrastructure.
Through Remitise, Raenest plans to strengthen its UK payment capabilities, build deeper local partnerships and develop new cross-border financial services over time, in line with applicable regulatory permissions.
“For customers, the acquisition is an investment in the parts of their financial lives they rarely think about, made so that the parts they do think about can keep getting simpler,” said the company.
