Raenest raises $11 million in Series A funding to expand operations in the US and Egypt
- Raenest raised $11 million in Series A funding led by QED Investors.
- The funding will help Raenest expand its presence in Nigeria and Kenya and enter the U.S. and Egypt markets.
- Raenest has received approval from the Central Bank of Nigeria to operate as an International Money Transfer Operator.
Raenest's innovative approach to financial services in Africa is commendable, especially in addressing the challenges of cross-border transactions. Their focus on the gig economy and partnerships with banks indicates a strategic direction that could significantly enhance financial inclusivity. However, the company must navigate regulatory landscapes effectively to ensure sustainable growth in new markets.
