The cross-border fintech, which holds a Central Bank of Nigeria money-transfer licence, says owning an FCA-registered company strengthens its UK operations.
Raenest, a cross-border financial platform founded in 2022, said it has acquired 100 per cent of Remitise, a UK payments company registered with the Financial Conduct Authority, for an undisclosed sum. Condia, which obtained a statement from chief executive Victor Alade, reported the acquisition. Alade told Condia that buying Remitise is part of a long-term strategy to build a global financial company and to own more of the infrastructure behind its products. The company said the deal adds to payment licences in Canada and an International Money Transfer Operator licence from the Central Bank of Nigeria. Terms were not disclosed.
Sources: TechCabal (partner content) · Condia