Nigerian fintech Raenest has raised $11M in Series A funding to expand its reach across Africa. Led by QED Investors, the funding round also got participation from pan-African VC firms Norrsken22, Ventures Platform, P1 Ventures, and Seedstars. The fintech startup will look to deepen its presence in Nigeria and secure licenses in Egypt, Ghana, Kenya, and the U.S. What is Raenest As Africa’s tech ecosystem continues to blossom, more people from the region are landing remote jobs with big tech firms and global startups. However, receiving payments remains an obstacle for many freelancers and remote workers. They struggle to open accounts that accept U.S. dollars, face slow invoicing and payment processes, and it doesn’t help when their foreign employers use incompatible payment platforms. Related Post: Nigerian B2B Payment Startup, Klasha
Tag Archives: SeriesAFunding
Jan
SeamlessHR, a Nigerian startup helping businesses manage HR functions, has raised a $9 million Series-A extension round. The new funding from the Gates Foundation and Helios Digital Ventures brings the startup’s total funding to $25 million. The company plans to use the investment to expand across Africa, which may include acquisitions. Last year, the company reportedly held talks to acquire another HR tech startup in Nigeria. A Step Closer To Redefining Africa’s Productivity Although the company set out to raise $10 million, it eventually raised $9 million. This new funding comes months after SeamlessHR launched new embedded finance products that enable employers and employees to access critical financing solutions, including payroll financing, to fuel their growth and business performance. Related Post: African Remittance LemFi Secures $53M To Expand Into Europe