Raenest provides a platform for freelancers and businesses to manage multi-currency invoicing and payments through virtual bank accounts, enabling seamless transactions across borders. This solution addresses the high costs and complexities associated with international payments, allowing users to receive funds quickly and efficiently in their preferred currencies.
Funding
$3.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
GFPVVCFounders
Product
Problem
African freelancers and businesses face challenges with high fees and slow transaction times when receiving payments from international clients. Traditional cross-border payment methods often lack transparency and efficiency, hindering financial operations.
Solution
Raenest provides a multi-currency platform that enables African talents and businesses to manage global invoicing and payments through virtual bank accounts. The platform facilitates faster and more cost-effective transactions, allowing users to receive funds in their preferred currencies with minimal fees. Raenest offers a suite of financial services, including multi-currency wallets, automated payroll, invoicing tools, and virtual cards, all designed to simplify global receivables and expenses. By providing virtual USD, GBP, and EUR accounts, Raenest allows users to receive payments from anywhere in the world like a local, with zero conversion fees at the best exchange rates.
Target Audience
Raenest primarily targets African freelancers and businesses that require efficient and cost-effective solutions for managing multi-currency invoicing and international payments.
Features
- Multi-currency wallets supporting USD, GBP, EUR, and NGN
- Virtual cards for managing expenses with customizable spending limits
- Automated payroll system for paying contractors and employees in multiple currencies
- Invoicing tools for creating and sending professional invoices with multiple payment options
- Global contractor payments enabling payouts to banks and mobile money wallets
- Integration capabilities for seamless connectivity with other financial tools
- Compliance tools for onboarding employees in Africa without needing a local entity
- Real-time currency conversion with zero conversion fees