Nigerian cross-border payments platform Raenest has acquired Remitise, a UK-based payments company registered with the Financial Conduct Authority (FCA), in a deal announced on 10 November 2026. The acquisition gives Raenest full ownership of Remitise and a ready-made regulatory foothold in Britain, as the fintech builds more of its international payments infrastructure in-house.

Why the UK matters to Raenest

The UK is one of Raenest's most important markets, given its role in international commerce and cross-border payments. Owning an FCA-registered business should help the company deepen its local presence, strengthen relationships with banks and financial institutions, and develop new payment capabilities, rather than relying entirely on third-party partners to serve customers there.

From freelancers to a wider platform

Raenest was founded in 2022 by Victor Alade, Richard Oyome and Sodruldeen Mustapha, initially to help freelancers and remote workers receive payments from international clients. It has since grown into a broader platform offering US dollar, pound and euro accounts, international transfers, virtual and physical dollar cards, stablecoin services and US stock investing. The company says it now serves more than 1.5 million registered customers and has processed over $3 billion in lifetime transaction volume.

The deal builds on licences Raenest already holds, including money services and payment service registrations in Canada and an International Money Transfer Operator licence from the Central Bank of Nigeria. In February 2025 the company raised $11 million in Series A funding led by QED Investors, taking its total disclosed funding to more than $14 million. The price of the Remitise acquisition was not disclosed. The FCA register lists Remitise as a small payment institution, with Raenest recorded as a trading name since 1 September 2026.

Sources: TechCabal and Okay News.