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- Global financial platform Raenest has acquired UK-based payments company Remitise, strengthening its presence in the United Kingdom as part of its international expansion strategy.
Raenest, the global financial platform providing cross-border financial services to individuals and businesses, has announced the acquisition of a 100% ownership stake in Remitise, a UK-based payments company registered with the Financial Conduct Authority (FCA).
The acquisition represents a strategic investment in Raenest’s international financial infrastructure and strengthens its position in the UK market, one of the world’s leading centres for financial services and cross-border commerce.
The transaction is part of the company’s broader strategy to deepen its presence in major international markets while developing greater ownership of the infrastructure supporting its financial services.
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.
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What the acquisition means for Raenest
The acquisition of Remitise provides Raenest with ownership of an established UK payments business with an existing FCA registration.
This creates opportunities for the company to strengthen its local operations, deepen financial partnerships and develop additional payment capabilities, subject to applicable regulatory permissions.
For financial technology companies operating across borders, acquiring an existing regulated business can provide an alternative to building a new legal and regulatory structure from the ground up.
It can also support greater operational flexibility and control over certain financial services activities, depending on the regulatory permissions held by the acquired entity.
“Acquiring Remitise is a strategic investment in the financial infrastructure required to support our international growth,” said Victor Alade, Co-founder and CEO of Raenest.
“As we expand, we’re focused on building the regulatory foundations, financial partnerships and operational capabilities needed to serve our customers and businesses more effectively across borders.”
Raenest’s expansion and financial performance
Founded in 2022 by Victor Alade, Richard Oyome and Sodruldeen Mustapha, Raenest initially focused on simplifying international payments for freelancers and remote workers before expanding into a broader financial services platform.
The company currently provides global USD, GBP and EUR accounts, international transfers, virtual and physical USD cards, stablecoin services, US stock investing and eligible yield products.
Raenest has grown to over 1.5 million registered customers and processed more than $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 funding supported the company’s international expansion plans, product development and investment in financial infrastructure.
The acquisition of Remitise builds on these priorities as Raenest continues to strengthen its presence across international markets.
Strengthening its UK financial services presence
The United Kingdom represents an important market for Raenest, given its role in international payments, financial services and global commerce.
By acquiring Remitise, the company is investing in local financial infrastructure to support its long-term operations in the market.
The transaction is also expected to create opportunities for stronger relationships with financial institutions and payment partners, while supporting the development of additional financial services capabilities over time.
However, the acquisition does not automatically extend Remitise’s regulatory permissions to other Raenest entities or products. Any additional services will remain subject to the relevant regulatory requirements.
Security and regulatory compliance
Raenest’s international expansion is supported by its existing regulatory and compliance framework.
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 the company’s broader efforts to strengthen information security, data protection and operational resilience as it scales internationally.
What you should know
- Raenest has acquired 100% ownership of Remitise, a UK-based payments company registered with the FCA.
- The acquisition strengthens Raenest’s UK presence and supports its international financial infrastructure strategy.
- Raenest serves over 1.5 million registered customers and has processed more than $3 billion in lifetime transaction volume.
- The company raised $11 million in Series
