Nigerian fintech Raenest announced on Tuesday, 10 November 2026, that it had acquired Remitise, a UK payments company registered with the Financial Conduct Authority (FCA). According to reports on the transaction, Raenest took full ownership of the business to strengthen its presence in Britain and the infrastructure supporting its cross-border financial services.
Through the acquisition, Raenest gains an established operating presence in a major international payments market. It plans to use Remitise to deepen relationships with UK financial institutions and gradually develop additional payment capabilities in line with the relevant regulatory permissions. The purchase price has not been disclosed.
The group already holds an international money transfer operator licence in Nigeria and financial-services registrations in Canada. Adding Remitise extends its operating footprint across three markets involved in the movement of money between individuals, independent professionals and businesses.
Building a cross-border payments network
Founded in 2022 by Victor Alade, Richard Oyome and Sodruldeen Mustapha, Raenest initially focused on professionals receiving income from clients overseas. Its offering has since expanded to accounts denominated in US dollars, pounds and euros, international transfers and payment cards, bringing several financial activities together on one platform.
Raenest says it now has more than 1.5 million registered customers and has processed over $3 billion in cumulative transactions since launch. The company-reported figures provide a measure of the activity it aims to support through further investment in payment infrastructure.
The Remitise purchase follows an $11 million Series A funding round led by QED Investors in February 2025. Raenest says it has disclosed more than $14 million in venture funding overall. Its new UK presence is intended primarily to support financial partnerships and the continued development of services that move money across borders.