Nigerian fintech Raenest buys UK payments firm Remitise
The deal gives the platform, which has more than one million customers in over 50 countries, more control over the infrastructure behind its global accounts and cards.
Lagos — Nigerian fintech start-up Raenest has completed the acquisition of Remitise, a UK-based payments company, for an undisclosed sum, Disrupt Africa reported.
The company says the deal expands its regulatory footprint and gives it greater control over its global payments infrastructure.
From payroll to global banking
Raenest was founded in 2022 by Victor Alade, Sodruldeen Mustapha and Richard Oyome. It began as an Employer of Record service and has grown into a platform that helps African businesses and freelancers receive international payments, hold multi-currency wallets, open global accounts in their own names and use physical and virtual dollar cards, with payments in US dollars, euros and pounds.
It has more than one million individual customers in over 50 countries, has processed more than US$2 billion in payments and serves over 300 businesses. Its consumer product, Geegpay, is aimed at Africa's gig workers. The company raised US$11 million in Series A funding in February 2025.
"Acquiring Remitise is part of our long-term strategy to build a global financial company. We want to own more of the infrastructure behind our products, deepen our relationships with financial institutions and create a stronger foundation for the customers and businesses we serve," said Victor Alade, Raenest's chief executive.
Raenest already holds money services business and payment service provider licences in Canada and an international money transfer operator licence in Nigeria.
Source: Disrupt Africa, 12 November 2026.
