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

The transaction underscores Raenest's growing investment in the infrastructure behind its financial services, as the company evolves from a platform focused primarily on international payments into a broader financial ecosystem serving customers worldwide.

The acquisition builds on Raenest's existing international regulatory footprint, which includes Money Services Business (MSB) and Payment Service Provider (PSP) licences in Canada, as well as an International Money Transfer Operator (IMTO) licence issued by the Central Bank of Nigeria. Cross-border payment activity falls under the oversight of regulators in every market it touches, making locally issued authorisations a core requirement for companies moving money internationally. With Remitise added to the group, Raenest is deepening its regulatory and operational presence across key global financial markets.

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, Raenest gains ownership of an established UK payments business that already holds an FCA registration. The FCA is the UK's financial services regulator, and firms must be authorised or registered with it to provide payment services in the country. The transaction creates opportunities for the company 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 toward 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 that support 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."

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. The company has since 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 provides Upwork FastTrack, which enables 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 has processed over $3 billion in lifetime transaction volume.

In February 2025, the company raised $11 million in Series A funding led by QED Investors, a venture capital firm focused on financial technology, bringing its total disclosed funding to more than $14 million. The investment was intended to support expansion into new markets, strengthen the company's 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.

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 require 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."

The acquisition reflects Raenest's broader strategy of investing in the infrastructure required to operate sustainably across international markets. Beyond its registrations in Canada and its IMTO licence from the Central Bank of Nigeria, the company has 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 deal also mirrors 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, the company has taken another step toward that ambition, strengthening its UK presence while continuing to build financial services designed to work across borders.