Geegpay

What Geegpay does

Geegpay, operating commercially as Raenest, is a Lagos-headquartered cross-border financial technology platform that delivers multi-currency accounts, virtual and physical Visa/Mastercard cards, smart invoicing, and stablecoin support to a global user base of over 1 million consumers and 11,000+ businesses. The company's primary customer segments are freelancers, independent creators, international travelers, online shoppers, students paying for foreign subscriptions, social sellers, and SMBs operating across 13+ countries with payment footprints reaching 190+ countries.

The platform's product surface spans Send Money, Receive Money, Global Accounts (USD, GBP, EUR, USDT, USDC), Cards (virtual and physical), Invoices, US Stocks, Stablecoins, and a dedicated Upwork earnings integration that settles into a user account in under one hour. Banking and securities services are delivered through licensed partners rather than direct licenses: Regent Bank provides FDIC-insured USD deposits in the US, Clear Junction Ltd delivers FCA-regulated e-money services in the UK, Alpaca Securities LLC (FINRA/SIPC member) powers US stock investing alongside City Investment Capital Limited (SEC Nigeria-licensed), and Visa/Mastercard networks power card issuance, with Raenest operating as a Visa Principal Member. The company itself holds a Central Bank of Nigeria International Money Transfer Operator license and a FINTRAC Money Services Business registration in Canada.

Geegpay/Raenest generates revenue primarily through transaction-based fees on international money transfers, card issuance and usage, and FX margins across its multi-currency pairs, with secondary affiliate/referral economics from the Alpaca Securities US stock offering. Distribution is product-led: a self-serve web and mobile app experience with a 4.6 app store rating, supplemented by a referral program, a paid Creator Club for promoters, and direct marketplace integrations with Upwork, Fiverr, Toptal, Deel, Payoneer, and PayPal. The company is venture-backed by QED Investors, Google Ventures, Techstars, and Seedstars, and was previously known as Geegpay before rebranding to Raenest.

Name

Geegpay

Legal name

Raenest Inc.

Website

https://geegpay.africa

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Geegpay (operating as Raenest) is a Lagos-headquartered cross-border fintech platform offering multi-currency accounts, virtual and physical Visa cards, invoicing, and stablecoin support to freelancers, creators, travelers, and SMBs receiving payments from 190+ countries.

Ownership category

akta.pro rank

Product category

Cross-border payments

NAICS

Securities and Commodity Exchanges (52321)

SIC

Finance Services (6199)

akta.pro primary industry

Multi-Currency Accounts, Wallets & FX Management (Consumer/SME) (FSAGAKAF)

akta.pro secondary industries

International / Multi-Currency Wallets (FSAMAEAL), Cross-Border Payment Orchestration & Routing (FSAGAKAJ), Cross-Border & Multi-Currency Gateway Services (FSAMACAI), Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD)

Keywords

• Cross-border payments
• Multi-currency accounts
• Virtual cards issuance
• International money transfers
• Freelancer payment solutions

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Money Transfer Fees: Transaction fees charged for sending money globally with reasonable upfront fees and flexible transfer options
2. Card Services: Virtual and physical card issuance and usage fees
3. Currency Exchange: Exchange rate margins on currency conversion between USD, GBP, EUR, USDT, USDC
4. US Stock Investment: Partnership with Alpaca Securities for US stock investments, likely earning referral or transaction fees

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Raenest (formerly Geegpay) provides a self-serve cross-border financial platform offering multi-currency global accounts in USD, GBP, EUR, USDT and USDC, virtual and physical Visa cards, international money transfers from 190+ countries, smart invoicing with payment links, US stock investments, and stablecoin reception. It serves both individual freelancers and creators and businesses making and receiving international payments across 13+ countries, with dedicated Personal and Business product lines.

Product overview

Raenest is a financial technology (FinTech) platform providing a comprehensive suite of cross-border payment and financial services. The platform operates as a unified product with multiple integrated modules including Send Money (global transfers), Cards (virtual and physical Visa/Mastercard cards), Receive Money (international payment reception from 190+ countries), Global Accounts (multi-currency accounts supporting USD, GBP, EUR, USDT, and USDC), Invoices (smart invoicing), US Stocks (investment in U.S. equities via Alpaca Securities partnership), Upwork Integration (dedicated earnings receipt), Stablecoins (USDC/USDT reception), and reward programs (Referral, Creator Club, Rewards). The platform also offers a dedicated Business Account variant for enterprise clients requiring international payment processing across 13+ countries. Banking services are provided by partner institutions including Regent Bank (US/FDIC insured), Clear Junction Ltd (UK/FCA regulated), with U.S. securities services through Alpaca Securities LLC (FINRA/SIPC member).

Differentiator

Problem solved

Functional benefit

Products and services

• Send Money

Quantifiable outcome

• Over 1 million users trust the platform
• +3 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Alpaca Securities LLCcoreTechnology or IntegrationUS-licensed broker-dealer providing securities brokerage services for US stock investments. Member of FINRA and SIPC, regulated by SEC and FINRA. Investment feature offered in partnership with City Investment Capital Limited.
• VisacoreTechnology or IntegrationVisa is a Principal Member providing the payment network for Raenest USD Visa Cards. Cards are powered by Visa Inc. and accepted wherever Visa is accepted globally.
• MastercardcoreTechnology or IntegrationMastercard card services provided by Raenest's technology partners, authorized to issue cards operating over their networks.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Wise: Global cross-border payments and multi-currency account leader. Directly comparable because Wise is integrated with Raenest and serves the same freelancer/creator remittance use cases with multi-currency wallets and cards.
• Revolut: Global neobank offering multi-currency accounts, FX, and cards. Comparable as a broad incumbent in the same cross-border digital banking category and listed as a Raenest integration.
• PayPal: Global digital payments incumbent with cross-border send/receive and USD accounts. Comparable as a broad incumbent in freelancer receiving and is also a Raenest integration partner.
• Mercury: Multi-currency business account and payments platform. Comparable as a broader incumbent serving SMBs making and receiving international payments, the same business segment Raenest targets.

Direct peers

• Payoneer: Cross-border payments platform purpose-built for freelancers, marketplaces, and SMBs. Highly comparable: serves the same Upwork/Fiverr/Toptal user base and is integrated with Raenest's accounts.
• Grey: Africa-focused cross-border payments platform offering USD/GBP/EUR accounts to Nigerian users. Direct peer because it competes head-to-head for the same African freelancer and remote worker remittance segment.
• LemFi: Diaspora-focused remittance and multi-currency account platform targeting African users. Direct peer because it addresses the same diaspora-to-Africa and Africa-to-world transfer use cases.

Regional players

• Chipper Cash: Pan-African cross-border payments app. Comparable as a regional Africa-focused peer in the same consumer/SMB remittance category with overlapping corridors.

Others

• Geegpay (legacy brand): Listed because the company's me.geegpay.africa login and prior brand still co-exist with Raenest, making the legacy entity a directly comparable historical identity rather than a market competitor.

Emerging players

• Bitnob: Africa-focused Bitcoin and stablecoin payments platform. Comparable as an emerging player with overlap on stablecoin rails (USDT/USDC) for African remittance and cross-border use cases.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/geegpay_hq
• LinkedInlinkedin.com/company/geegpayhq

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Geegpay