Raenest acquires Remitise, an FCA-registered UK payments company

Picture a product designer in Lagos. Her biggest client is in London, her latest contract pays in euros, and her savings sit in dollars. Before she finishes her first coffee on a Monday, her workweek has already crossed three currencies, and each crossing relies on financial systems she will never see or think about.

We have just made one of our most significant moves in those unseen systems. Raenest has acquired Remitise, a UK payments company registered with the Financial Conduct Authority (FCA). This acquisition strengthens our UK presence and deepens our investment in the infrastructure behind our global financial operations.

It also builds on our existing regulatory foundations, including our International Money Transfer Operator (IMTO) licence in Nigeria and our Money Services Business (MSB) and Payment Service Provider (PSP) registrations in Canada. Together, these steps bring us closer to our ambition of building a global financial platform for people and businesses whose financial lives stretch across several countries at once.

To see why this step matters, it helps to start with how Raenest got here.

From Getting Paid Abroad to a Global Financial Platform

Raenest was founded in 2022 by Victor Alade, Richard Oyome, and Sodruldeen Mustapha to solve a problem they understood well. Receiving money from abroad was far more complex than it should be, and freelancers, remote workers, and businesses doing exactly the kind of international work the world kept asking for, felt it most.

Solving that first problem uncovered the next ones. Once customers could receive money internationally, they needed somewhere to hold it, ways to send and spend it, and, eventually, ways to grow it. Raenest's products followed the same path as its customers. Today the platform brings together USD, GBP and EUR global accounts, international transfers, virtual and physical USD cards, USDC and USDT stablecoin services, investing in US stocks and ETFs, and eligible yield products, so customers can receive, send, spend, save and grow their money across borders in one place.

That approach has found its audience. Raenest now serves more than 1.5 million registered customers and has processed over $3 billion in lifetime transaction volume. Investors have backed the direction too: in February 2025, Raenest raised an $11 million Series A led by QED Investors, bringing its total disclosed venture funding to over $14 million.

Growth like that raises a practical question. A platform serving customers across several countries eventually needs deeper roots in the markets where money actually moves, and the UK is one of the top markets in this space.

Why the UK, and Why Ownership Matters

The United Kingdom has long been one of the world's great financial centres, with deep roots in international commerce, banking and cross-border payments. For a company building financial services meant to work across countries, a strong position is very important.

The acquisition of Remitise gives Raenest that position. As an established, FCA-registered payments business, it gives Raenest the infrastructure behind its UK operations, creating room to strengthen local operations, build deeper financial partnerships, and develop new capabilities over time.

Expanding a financial platform internationally depends on the right infrastructure, regulatory foundations, local partnerships, and operational capabilities in each market, and this acquisition brings more of those pieces under Raenest's roof.

What This Means for Raenest Customers

Think back to the designer in Lagos. Her London client, her euro contract and her dollar savings all depend on payments moving reliably between systems in different countries. She is far from alone. More people now work with international clients, earn from several places, pay suppliers abroad, and hold money in more than one currency, and the systems behind those activities matter more every year.

Through Remitise, Raenest sees opportunities to strengthen its UK payment capabilities, build deeper local partnerships and support future improvements to its cross-border financial services. These developments will be pursued in line with applicable regulatory permissions and operational requirements.

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.

A Global Money Partner for Lives That Cross Borders

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. But the vision has always reached further: to build the financial infrastructure for a world where opportunity isn't limited by geography, businesses can pursue ambitions beyond their home markets, and people can take their aspirations wherever they lead.

Every step forward brings us closer to that future, where your financial possibilities aren't defined by where you live or work, but by how far you dare to go. Because where you are should never determine how far you can go.