Raenest acquires UK payments company Remitise to accelerate global expansion

Raenest, the global financial platform helping individuals and businesses receive, send, spend and manage money across borders, has announced the acquisition of Remitise, a UK-based payments company registered with the Financial Conduct Authority (FCA). The acquisition gives Raenest full ownership of Remitise and marks another milestone in the company’s international expansion strategy as it seeks to strengthen its presence in major financial markets.

The move reflects Raenest’s growing investment in the infrastructure behind its financial services, as it evolves from a platform focused primarily on international payments into a broader financial ecosystem serving customers globally.

The acquisition builds on Raenest’s existing international regulatory footprint, which includes Money Services Business (MSB) and Payment Service Provider (PSP) licences in Canada, alongside an International Money Transfer Operator (IMTO) licence issued by the Central Bank of Nigeria. With the addition of Remitise, an FCA-registered UK payments company, Raenest is strengthening its regulatory and operational presence across key global financial markets.

Raenest strengthens its presence in the UK

The United Kingdom is a strategically important market for Raenest, given its role in international finance, global commerce and cross-border payments. Through the acquisition of Remitise, Raenest gains ownership of an established UK payments business with an existing FCA registration.
The transaction creates opportunities for Raenest to strengthen its local operations, deepen partnerships with financial institutions and develop additional payment capabilities, subject to applicable regulatory requirements.

For fintech companies expanding internationally, establishing local financial infrastructure can be an important step towards supporting long-term growth. Rather than relying exclusively on third-party partnerships, Raenest is pursuing a strategy that combines financial partnerships with direct investments in businesses and capabilities supporting its international operations.

“Building a global financial platform requires more than launching products in different countries. It requires the right infrastructure, regulatory foundations and financial partnerships to support customers wherever they operate,” said Victor Alade, Co-founder and CEO of Raenest. “The acquisition of Remitise is an important step in that journey. We’re investing in the capabilities that will allow us to build better financial experiences for our customers as their needs become increasingly global.”

From international payments to a global financial ecosystem

Founded in 2022 by Victor Alade, Richard Oyome and Sodruldeen Mustapha, Raenest began by addressing the challenges freelancers and remote workers faced when receiving payments from international clients. Over the years, the company has expanded its services to support a wider range of financial needs.

Today, Raenest offers global USD, GBP and EUR accounts, international transfers, virtual and physical USD cards, stablecoin services, US stock investing and eligible yield products. The platform also offers Upwork FastTrack, enabling eligible freelancers to receive their earnings in as little as 30 to 60 minutes.
Raenest has grown to more than 1.5 million registered customers and processed over $3 billion in lifetime transaction volume. In February 2025, the company raised $11 million in Series A funding led by QED Investors, bringing its total disclosed funding to over $14 million.

The investment was intended to support the company’s expansion into new markets, strengthen its financial infrastructure and accelerate product development. The acquisition of Remitise builds on that strategy, giving Raenest a stronger foundation for its long-term presence in the UK market.

What the acquisition means for customers

For Raenest customers, the acquisition represents an investment in the infrastructure supporting their financial activities. As more individuals and businesses earn, spend and move money internationally, they increasingly need financial services that can support transactions across multiple markets.

By strengthening its UK presence, Raenest aims to deepen local financial partnerships, develop additional payment capabilities and improve its ability to serve customers with international financial needs. While the acquisition does not immediately introduce new customer-facing services, it creates opportunities for future improvements, subject to regulatory permissions and operational readiness.

“Our customers want to receive payments, manage different currencies, spend internationally and move money without unnecessary complexity,” Alade added. “Our responsibility is to keep building the financial infrastructure that makes these experiences easier, more reliable and accessible, regardless of where they operate.”

Building the foundations for long-term global growth

Raenest’s acquisition of Remitise reflects its broader strategy of investing in the infrastructure required to operate sustainably across international markets. The company maintains regulatory registrations in Canada and an International Money Transfer Operator (IMTO) licence issued by the Central Bank of Nigeria.

It has also maintained its ISO certification through two consecutive renewal cycles and obtained a Certificate of Compliance with the Nigeria Data Protection Regulation (NDPR).

These investments form part of Raenest’s efforts to strengthen security, compliance and operational resilience as it continues to scale. The acquisition also reflects a wider shift in how financial technology companies approach international expansion, combining product development with investments in regulated businesses and local financial infrastructure.

For Raenest, the long-term goal is to build a global financial platform that enables individuals and businesses to participate more easily in the international economy.

With Remitise now part of its business, Raenest is taking another step towards that ambition, strengthening its UK presence while continuing to build financial services designed to work across borders.

Also read: Raenest CEO explains why African businesses still struggle to move money across borders