Raenest, a platform for multi-currency accounts serving individuals and businesses across Africa, has announced the closure of an $11 million Series A funding round, led by QED Investors, with participation from Norrsken22, Ventures Platform, P1 Ventures, and Seedstars.
The funding will support its operations in Nigeria, expansion in Kenya, and entry into new markets such as the United States and Egypt this year.
Founded in 2022, Raenest facilitates international payments, currency conversion, and portfolio management, aiming to expand in the cross-border payments market, which is expected to reach $320 trillion by 2032.
