Nigeria’s fintech Raenest has launched in India and the Philippines to solve a simple pain point for remote workers and freelancers. Getting paid from abroad often takes too long, costs too much, and forces people to juggle tools that never fit their work life. Raenest says it now offers its core cross-border payment tools in both markets, with features built around how freelancers actually earn.
Raenest chose India and the Philippines because both countries send huge volumes of freelance and remote work talent into global markets, especially for clients in the US and UK. Raenest co-founder Victor Alade told TechCabal the company also saw repeated sign-up attempts from users in both countries before launch, which signalled real demand.
Raenest says users in India and the Philippines can open foreign currency accounts in USD, GBP, and EUR and receive payments into those accounts. The company positions this as a foreign currency platform that works alongside local banks, not a replacement for them.
A key feature targets Upwork users. Raenest says its FastTrack feature links to Upwork and delivers payouts in under one hour, including weekends and public holidays. For a freelancer who pays rent, staff, or internet bills with that money, speed changes daily life. It reduces the gap between finished work and usable cash.
Raenest also supports stablecoin payments through USDT and USDC wallets that convert automatically to dollars. Then users can withdraw to their local bank accounts in local currency. This matters because a lot of global clients already pay contractors in stablecoins, especially in markets where card payments or international bank transfers frustrate both sides.
Raenest also says it will roll out invoicing tools in these markets so freelancers and consultants can bill clients and track income in the app. Invoicing seems basic, but many freelancers still manage it with spreadsheets and chat screenshots, which leads to mistakes and payment delays.
India and the Philippines already have global and regional players that help people receive foreign money. Raenest argues that many of these players focus on remittances rather than freelancers and remote workers, so it designs features around payouts, accounts, and workflow needs. The market will decide if that focus delivers a real edge in price, speed, and support.
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Raenest now needs to prove three things in these new markets. It needs consistent payout speed, predictable fees, and reliable withdrawals into local banks. It also needs support that resolves failed transfers quickly, since payment problems hit income directly.
If Raenest delivers on its under-one-hour Upwork payout claim at scale, it will win early loyalty among heavy platform earners. If it also delivers clean invoicing and stablecoin handling without surprises, it can compete for freelancers who now juggle three or four tools just to get paid and convert money safely.
