Raenest has emerged as a solution to the payment challenges faced by freelancers in Africa, allowing them to receive payments in multiple currencies. The startup raised $11 million in Series A funding to enhance its operations. Initially launched to support foreign companies in paying African employees, the founders quickly pivoted towards addressing the needs of individuals who faced delays and hurdles in receiving payments. With tools like Geegpay, Raenest offers freelancers and businesses seamless access to international financial services, aiming to ease currency conversion issues and improve payment speed.
Also drawing from his remote work experience, Alade and his co-founders, who also bring experience working with African fintechs like LemFi and FairMoney.
A U.S. company might not care if a payment is delayed by five days. But for someone in Nigeria or Kenya, that's a big deal-especially when converting to local currency becomes another hurdle.
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