Raenest, a Nigerian fintech specialising in cross-border payments, has officially launched its services in India and the Philippines, marking the company’s first major entry into South and Southeast Asia. The expansion targets freelancers and digital professionals earning income across borders, offering multicurrency accounts designed to simplify international payments and streamline financial operations for remote workers.
The move follows Raenest’s entry into the US market in October 2025, where it introduced four new products, including faster freelance payouts, stock investing, and stablecoin conversions. While not all products are live in Asia, users in India and the Philippines now have access to the company’s core payment tools, including multicurrency accounts and Raenest’s FastTrack feature, which links directly to Upwork accounts for near-instant payment transfers.
According to Victor Alade, Raenest’s co-founder, the expansion was guided by data on the freelance economy in both countries. “India and the Philippines are top markets for freelancers working with companies in the US, the UK, and other parts of the world,” Alade said. Research shows India has over 15 million freelancers, with nearly a quarter earning above $44,000 annually, while freelance revenues in the Philippines grew by 208 percent from 2019 to 2020, signalling strong earning potential for cross-border workers.
Raenest’s platform allows users to open accounts in US dollars, British pounds, and euros, receive payments via stablecoins, and convert funds for withdrawal into local currency. The app also provides invoicing tools to enable freelancers to bill clients and track income within a single ecosystem. By focusing on foreign-currency accounts rather than local wallets, Raenest navigates regulatory requirements while tailoring its services specifically for freelancers and remote workers, rather than general remittance users.
The Nigerian fintech enters a competitive landscape already served by global players such as Wise, Skydo, and Karbon Business. Yet, Raenest positions itself as a specialised solution for cross-border freelancers, integrating instant payouts, stablecoin options, and multicurrency support. Founded in 2022 by Victor Alade, Richard Oyome, and Sodruldeen Mustapha, the company operates across multiple African markets and Canada, with India and the Philippines marking the beginning of a broader Asian expansion driven by user demand and regulatory readiness.