M&A
Nigerian fintech Raenest buys UK payments firm Remitise to deepen its British footprint
Nigerian cross-border fintech Raenest has acquired all of Remitise, a UK company the Financial Conduct Authority lists as a small payment institution. The price was not disclosed. That registration caps average monthly payment volume at €3 million and bars account information and payment initiation services, which limits what the UK entity can do under its current permissions.