Raenest, a Nigeria-based fintech specializing in cross-border remittances and multicurrency accounts for freelancers and businesses, has officially expanded into the United States, marking its most significant international move to date. The expansion comes just eight months after the company secured $11 million in Series A funding, which it is now deploying to open new global corridors and deepen its product offerings.
The announcement was made by CEO Victor Alade at the inaugural Raenest Exchange 2025 event in Lagos, where he introduced a new feature enabling users to send and receive funds between international bank accounts, including transfers from U.S. institutions back to Africa. This development is a direct execution of Raenest’s post-funding strategy, which also includes plans to enter Egypt.
Founded in 2022, Raenest initially launched as an Employer of Record (EOR) service before pivoting to address the growing demand for efficient cross-border payments among Africa’s freelance and small business communities. Today, the company offers global bank accounts and supports transactions in U.S. dollars, euros, and British pounds, helping users navigate the complexities of international finance.
Raenest’s consumer-facing app, Geegpay, has become a cornerstone of its success, enabling freelancers and content creators to receive payments from platforms such as Upwork, Fiverr, and Gusto. The company now serves over 700,000 users and has processed more than $1 billion in transactions, underscoring its rapid growth and market relevance.
In line with its vision to become a financial super-app, Raenest unveiled several new features at the Lagos event:
- USDT Stablecoin Payments: Users can now receive payments in USDT, which are automatically converted to U.S. dollars, offering greater flexibility and speed.
- Direct Integration with Freelance Platforms: Raenest has partnered with platforms like Upwork to reduce payment processing times to under one hour.
- Stock Trading Capabilities: A new feature allows users to buy and sell stocks, expanding Raenest’s utility beyond remittances and into personal finance and investment.
Raenest’s expansion into the U.S. places it among a growing group of Nigerian fintechs with global aspirations, following in the footsteps of firms like Paga and Moniepoint, which are targeting European markets. The move reflects a broader trend of African startups scaling internationally while continuing to solve local challenges. With its latest innovations and strategic expansion, Raenest is positioning itself as a key player in the future of global payments, bridging continents, empowering freelancers, and redefining financial access for Africa’s digital economy.
