Raenest Acquires UK Payments Firm Remitise to Strengthen FCA-Regulated Presence
Sponsored content: Nigerian-founded fintech Raenest has acquired 100% of Remitise, a UK-based payments company registered with the Financial Conduct Authority (FCA). The deal gives Raenest immediate ownership of established UK regulatory infrastructure rather than building from scratch—a strategic shortcut for cross-border expansion.
Raenest, founded in 2022 by Victor Alade, Richard Oyome, and Sodruldeen Mustapha, now 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 A funding led by QED Investors in February 2025, bringing total disclosed funding to over $14 million.
The acquisition adds FCA registration to Raenest's existing regulatory stack: Money Services Business and Payment Service Provider licences in Canada, plus an International Money Transfer Operator (IMTO) licence from the Central Bank of Nigeria. CEO Victor Alade calls it a "strategic investment in the financial infrastructure required to support our international growth."
Key caveat: Remitise's FCA permissions don't automatically extend to other Raenest entities or products. Any new services still need separate regulatory approval. The company also maintains ISO certification and Nigeria Data Protection Regulation compliance.
For Nigerian freelancers and businesses using Raenest's USD, GBP, and EUR accounts, virtual/physical USD cards, and US stock investing: this deepens the rails your money moves on. Will owning UK regulatory infrastructure give Raenest a lasting edge over competitors still building from scratch?