Nigerian fintech Raenest has acquired 100% of UK payments company Remitise, adding a Financial Conduct Authority (FCA) registered business as it seeks control over the infrastructure behind its cross-border services.
The companies did not disclose the value of the deal.
Remitise’s FCA registration adds to Raenest’s regulatory presence in Nigeria, where it holds a Central Bank of Nigeria international money transfer operator license, and Canada, where it has money services and payment service provider registrations.
Raenest said the deal will help the company build its relationships with UK financial institutions and develop additional payment capabilities, subject to relevant regulatory approvals.
The company serves more than 1.5 million registered customers and says it has processed over $3 billion in lifetime transactions.
For Black and Brown founders building fintech businesses, the acquisition shows how buying regulated local infrastructure can support international expansion while reducing reliance on external payment partners.
