Raenest offers multicurrency virtual accounts (USD, GBP, EUR) and virtual and physical debit cards through its retail product Geegpay and a separate Raenest for Business platform. The company launched in 2022 as an Employer of Record and quickly pivoted to focus on enabling individuals to receive international payments, later expanding to serve businesses. Since launch it has processed over $1 billion in payment volume and reported 160% growth between 2023 and 2024. Today more than 700,000 individuals and over 300 businesses use Raenest to receive payments, make cross-border transfers, and raise capital; clients include Moniepoint, Helium Health, Fez Delivery, and Matta. Raenest currently operates in Nigeria under a money transfer license, maintains banking partnerships in the U.S. and U.K., and plans to secure licenses to expand into Egypt, Ghana, Kenya, and the U.S. The company is consolidating Geegpay and Raenest for Business under the single Raenest brand and has indicated additional product launches to broaden its financial services.

Total raised

$11M

Funding rounds

1

Latest round

Series A

Latest activity

Feb 2025