Nigeria-based remittance startup Raenest raised $11 million in a Series A funding round led by QED Investors to expand its product offering and enter additional markets.

Feb 11, 2025•10 months ago

Amount Raised

$11 Million

Round Type

series a

Victoria IslandFinanceFinancial Services

Investors

SeedstarsP1 VenturesVentures PlatformNorrsken22Qed Investors

Description

Raenest, a cross-border remittance company, has raised $11 million in a Series A funding round, increasing its total funding to $14.3 million. The company plans to use the new funds to expand its product offerings and enter additional markets.

Company Information

Company

Raenest

Location

Victoria Island, Lagos, Nigeria

About

Raenest is a modern, multi-currency platform for Africans that makes managing money across borders easy. It offers fast, transparent, and affordable international payments, along with convenient ways to spend, save, invest, and grow wealth, empowering users to stay in control of their finances wherever their journey takes them.

Related People

2 contacts

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends