Raiz

What Raiz does

Raiz (operating entity Raiz Digital Services Limited in Nigeria, with a US affiliate in Newark, Delaware) is a cross-border payments fintech founded in 2023 that issues multi-currency accounts and routes cross-border transfers using stablecoin-based settlement (USDC, USDT) on top of a broader integration with mobile money and traditional banking rails. The company targets African small and medium-sized businesses and the African diaspora, addressing frictions in the Africa-to-Africa and Africa-to-diaspora corridors that have historically depended on slow and expensive correspondent banking transfers.

The platform is composed of four products: the Raiz App for consumer-facing multi-currency accounts; Raiz Business, which adds API access and operational tooling for merchants and SMBs; Raiz Checkout, a merchant payment gateway; and Raiz Auto, a cross-border vehicle import product integrated with Copart auctions. Underlying technical architecture connects stablecoin settlement with mobile money networks (M-Pesa, MTN MoMo), Chinese consumer payment systems (AliPay, WeChat Pay), and traditional banking rails (ACH, SEPA). The platform applies AI-assisted KYC and AML anomaly detection, with compliance infrastructure integrated via a partnership with AiPrise.

Raiz generates revenue primarily through per-transaction fees on cross-border payments and currency swap spreads on multi-currency conversions. Distribution is anchored by partnerships with Wells Fargo and Lead Bank on the US side, PalmPay and Providus Bank on the African side, and AiPrise for compliance. The company reports 10,000+ customers, a 4.9/5 rating across 2,000+ reviews, service availability in 80+ countries, and support for 25+ African currencies. Regulatory posture includes FinCEN MSB registration in the United States, NDPR certification in Nigeria, and PCI DSS compliance.

Name

Raiz

Legal name

Raiz Digital Services Limited

Website

https://raiz.app

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Raiz is a 2023-founded fintech that provides stablecoin-powered multi-currency accounts and cross-border payment services for African SMBs and the diaspora, covering 80+ countries and 25+ African currencies.

Ownership category

akta.pro rank

Product category

Cross-Border Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Miscellaneous Intermediation (523910)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF), Card-Based Cross-Border Payments & FX Settlement (FSAMAIAD), Cross-border Payments & FX for E-commerce (CRAFALAF), Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• Cross-border payments
• Multi-currency wallets
• FX conversion services
• Stablecoin settlement rails
• Mobile money payments

Headquarters

HQ city

Newark

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Transaction Fees - Naira: Fees on NGN transactions: NGN 15.50 for amounts below NGN 10,000; NGN 85 (NGN 50 stamp duty + NGN 35 fee) for NGN 10,000 and above
2. USD Bank Transfer Fees: ACH transfer: $2; ACH Same Day: $5; Wire Transfer: $15. These fees apply to US payment rails
3. USD Receiving Fees: ACH Deposit Under $10: Free; ACH Deposit Over $10: 1.5%; Wire Deposit Under $20: 0.5%; Wire Deposit Over $20: $15 + 0.5%
4. Currency Swaps: No fee for currency swaps between supported currencies. Revenue derived from exchange rate spread
5. Crypto Operations: Crypto Deposit: $1-2; Crypto Withdrawal (USDT/USDC): $1-5; Crypto Swap: Variable fee based on network conditions
6. Virtual Card & Account Fees: USD Virtual Card Top Up: $3 per transaction; B2B USD Account Creation: $10 one-time fee; B2C USD Account Creation: one-time fee
7. Card Transaction Fees: Naira Card Transaction: NGN 35 per transaction
8. International Remittance: No fee for international remittance - $0

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Raiz provides multi-currency accounts and cross-border payment services that let businesses and individuals send, receive, hold, and convert money across 80+ countries. The platform combines stablecoin-powered settlement rails with direct integrations into local payment networks (AliPay, WeChat Pay, MTN MoMo, M-Pesa, ACH, SWIFT, SEPA) to enable fast, low-cost international payments and remittances, with FX conversion, escrow services, and merchant checkout APIs as core capabilities.

Product overview

Raiz offers a multi-product platform for cross-border payments serving both consumers and businesses. The core offering includes the Raiz App for individual users (multi-currency wallets, remittances, FX conversion, virtual dollar cards) and Raiz Business for enterprises (global supplier payments, international collections, FX treasury management). Add-on modules include Raiz Checkout (embedded payment gateway for African market merchants) and Raiz Auto (specialized car import financing and Copart payment service). All products share a unified compliance infrastructure with FinCEN registration and NDPR certification.

Differentiator

Problem solved

Functional benefit

Brands

• Raiz Business: Business payment infrastructure for African companies doing international trade
• Raiz Checkout
• Raiz Auto
• Raiz App

Products and services

• Raiz App Consumer-facing mobile application that enables individuals to send, receive, hold, and convert value across currencies. Supports global payments, FX conversion, virtual dollar cards, and zero-fee international remittances to 80+ countries.
• Raiz Business Business payment infrastructure platform enabling African companies to pay suppliers in 80+ countries, collect USD/EUR/GBP payments via named bank accounts, manage multi-currency FX treasury from a unified dashboard with real-time visibility, and use stablecoin-powered settlement rails.
• Raiz Checkout Global payment gateway for businesses selling to African markets. Embeddable checkout that accepts 25+ African currencies while settling to USD or NGN, with PCI DSS compliance, auto FX conversion, and instant settlement.
• Raiz Auto Car import service providing Nigerian auto dealers with the ability to bid on Copart auction lots without dealer membership. Raiz Auto handles bidding and direct payment on behalf of the user.

Quantifiable outcome

• Most corridors settle in minutes vs 3-7 days for traditional bank transfers
• +3 more outcomes

Named customers6 records

Segments8 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability2 records

Feature7 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• PalmPaycoreTechnology or IntegrationTrusted payment partner providing local payment infrastructure for African market coverage. Listed in 'Powered by Trusted Partners' section on website.
• ProviduscoreTechnology or IntegrationBanking partner providing local Nigerian banking services and fund transfer capabilities. Listed in 'Powered by Trusted Partners' section on website.
• Wells FargocoreTechnology or IntegrationCorrespondent banking partner for US payment rails including ACH and wire transfers. Listed in 'Powered by Trusted Partners' section on website.
• AiPrisesupportingTechnology or IntegrationKYC/identity verification partner. Listed in 'Powered by Trusted Partners' section on website.
• Lead BankcoreTechnology or IntegrationBanking partner providing local Nigerian banking services and fund transfer infrastructure. Listed in 'Powered by Trusted Partners' section on website.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Remitly: Public, NASDAQ-listed digital remittance company (Western Union-adjacent). Comparable diaspora remittance product with global reach; competes in US↔Nigeria and other African corridors where Raiz operates with much greater scale and brand recognition.
• Payoneer: Established cross-border B2B payment platform serving freelancers, SMBs, and marketplaces. Comparable to Raiz Business for SMBs receiving international payments in USD/EUR/GBP, with broader scale but less Africa-specific corridor expertise.
• Wise: Global multi-currency account and cross-border transfer leader. Competes directly on multi-currency wallets and FX, though Wise's Africa coverage is thinner. Sets the price/UX benchmark that drives down corridor pricing for everyone including Raiz.

Emerging players

• Nala: Africa-UK focused remittance fintech using stablecoin rails and mobile money. Directly comparable diaspora remittance model with similar stablecoin settlement approach, though narrower corridor focus (UK ↔ East Africa).
• LemFi: Diaspora remittance app focused on African corridors (UK/Canada/US to Nigeria, Kenya, Ghana). Overlaps with Raiz App on diaspora→Africa flows, with comparable digital-first onboarding and stablecoin-influenced pricing.

Regional players

• Wave: Mobile money and remittance operator with strong presence in Senegal, Ivory Coast, and West Africa. Comparable mobile money stack to Raiz's MTN MoMo/M-Pesa integrations, though Wave operates its own licensed money service rather than partnering.

Direct peers

• Chipper Cash: Africa-focused remittance and cross-border payments app with strong US-Africa and intra-Africa corridors. Closely comparable to Raiz App on consumer/diaspora remittance, mobile money reach, and cross-border wallet functionality.
• Yellow Card: Africa's largest crypto-on/off-ramp and stablecoin payment network. Directly comparable stablecoin-powered remittance model across 20+ African countries, positioning against Raiz's USDC/USDT rails for African cross-border flows.
• Flutterwave: Pan-African payments platform offering cross-border collections, B2B payments, and FX across African countries. Directly competes with Raiz Business on cross-border trade payments and multi-currency wallets for African SMBs, with deeper capital and broader bank relationships.
• Paystack: Nigerian payments processor (now owned by Stripe) supporting local card payments, transfers, and increasingly cross-border flows. Direct competitor in Nigeria for merchant payment acceptance (vs Raiz Checkout) and business banking-adjacent services.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/RaizFinance
• LinkedInlinkedin.com/company/raiz-digital-services-company

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Raiz