Borderless Payments for Africa’s Remote Workers

Nigerian startup Raenest is helping remote workers and freelancers automate invoicing and get paid faster by clients globally while saving on fees via its Raenest Global accounts and cards. With Raenest, businesses can also use the platform to onboard African talents, pay them in their preferred currencies, and manage their team expenses. Launched in March 2021, Raenest now has more than 100,000 employees, independent contractors, freelancers, and creators using its platform. It offers full-time employee and freelancer support in Nigeria, as well as contractor support across Africa. It plans to expand to Ghana, South Africa, Kenya, and Egypt in 2023. Raenest raised a pre-seed funding round in early-2022 from Ventures Platform, Seedstars, TCVP, Ajim Capital, and other VCs and angels. Meanwhile, last month, the company was also selected to take part in the latest edition of the Techstars Toronto accelerator, securing access to mentorship, US$120,000 in funding and the opportunity to secure further investment at demo day.


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