He offers a seamless alternative to traditional financial channels. His solution reflects the ambition of a more open and more efficient market.

Victor Alade is a Nigerian technology entrepreneur. He is the chief executive of Raenest, a fintech company he co-founded in 2022 with Richard Oyome and Sodruldeen Mustapha.

Raenest allows users to open foreign currency accounts in U.S. dollars, British pounds or euros to receive international payments. Those funds can then be used for online purchases, travel expenses, money transfers or savings in the selected currency. The platform also offers virtual and physical cards for online payments and subscriptions.

The startup primarily targets freelancers, content creators, travelers, online shoppers, students and social commerce sellers. It also offers rewards programs to encourage regular use of its services.

Raenest Business

Raenest is developing a business-focused product called Raenest Business. More than 600 companies already use the platform to manage international payments and receive funds in more than 13 countries. Businesses can open an account, collect payments from foreign clients and pay employees or contractors across multiple markets.

The platform supports withdrawals to bank accounts or mobile money wallets in more than 70 countries. It also integrates with major third-party services including PayPal, Payoneer, Wise, Mastercard and Revolut.

Alade holds a bachelor’s degree in electrical and electronic engineering from the Federal University of Technology, Minna, Nigeria, awarded in 2014. After graduating, he worked as a software engineer at several technology companies, including Procrea8 Technology Solutions, Jumia Group and Andela.

Melchior Koba