Raenest holds licenses as an International Money Transfer Operator in Nigeria and as a Money Services Business in Canada, with plans to secure additional licenses in key regions.

Victor Alade, CEO of Raenest, emphasized the company's commitment to overcoming barriers to financial services for Africans, aiming to connect the continent to global markets.

Raenest competes with other fintech startups such as Afriex and Grey, but differentiates itself by serving both individuals and businesses, emphasizing speed, reliability, and compliance.

Strategic partnerships have been established with leading banks in the US and UK to ensure operational stability, with intentions to form more collaborations globally.