# Raenest

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/raenest

- Industry: Financial Services
- Headquarters: Lagos, Nigeria
- Website: www.raenest.com
- Total disclosed funding: $14M
- Latest round: Series A (Feb 11, 2025)
- Investors on record: 6

## About

Raenest, Inc. is a financial technology company that provides tailored financial services to businesses and individuals in Africa, facilitating efficient cross-border transactions and enhancing financial accessibility through innovative solutions.Raenest, Inc. offers a suite of financial services designed for businesses and individuals across Africa. Founded in 2022 and headquartered in Lagos, Nigeria, the company has engaged in three deals to date. The most recent deal occurred on February 11, 2025, when they raised USD 11 million in a Series A funding round led by QED Investors, with participation from Norrsken22, Ventures Platform, Seedstars, and P1 Ventures. The founder has a history of entrepreneurship, having previously launched other ventures that contributed to their experience in the financial sector.Raenest provides a comprehensive suite of financial services tailored specifically for businesses and individuals in Africa. Their core offerings include multi-currency accounts, virtual bank accounts, customizable payment cards, and automated payroll solutions. These services enable clients to receive, send, spend, and manage their money efficiently across various global platforms while reducing transaction fees. Raenest's platform supports a wide range of payment options, including bank transfers, PayPal, and Wise, facilitating seamless transactions for freelancers, contractors, and businesses. The company aims to simplify cross-border payments and enhance financial accessibility, specifically targeting markets in the United States, the United Kingdom, Europe, and various African nations.Raenest generates revenue through transaction fees and service charges associated with its financial products. The company's transaction structure typically involves B2B interactions, where businesses leverage Raenest's multi-currency accounts and payroll services to manage payments for employees and contractors. Businesses incur costs related to each transaction, such as fees for converting currencies or processing payments. Raenest's flagship offerings, including their virtual accounts and payroll automation tools, are designed to streamline financial operations for companies operating across borders. The pricing model caters to various user needs, ensuring that clients can efficiently manage their payments while benefiting from competitive exchange rates and low fees.In February 2025, Raenest, Inc. raised USD 11 million in Series A funding, which will be utilized to expand its market presence in the United States and Egypt. The company is currently developing new products aimed at enhancing its service offerings, with specific release dates to be announced. This strategic growth plan focuses on targeting new geographic regions and increasing accessibility to their financial services, ensuring that they meet the growing demand in these markets.

## Funding rounds

- Series A, Feb 11, 2025, $11M — QED Investors, Seedstars, Ventures Platform, P1 Ventures, Norrsken22
- Seed, Mar 1, 2023, $2.6M — P1 Ventures, TEN13

## Investors

- P1 Ventures (https://capitalatlas.ai/funds/p1-ventures) — Seed, Series A
- TEN13 (https://capitalatlas.ai/funds/ten13) — Seed
- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Series A
- Seedstars (https://capitalatlas.ai/funds/seedstars) — Series A
- Ventures Platform (https://capitalatlas.ai/funds/ventures-platform) — Series A
- Norrsken22 (https://capitalatlas.ai/funds/norrsken22) — Series A