TerraPay & Raenest boost payouts to India, Philippines

TerraPay has partnered with fintech platform Raenest as Raenest expands into India and the Philippines, aiming to speed up cross-border payouts for freelancers and remote workers in local currencies.

The agreement links Raenest to TerraPay's global payments network, which is expected to improve settlement efficiency for international payouts and enable recipients in both markets to receive funds in local currency.

India and the Philippines have large pools of freelance and remote talent serving overseas clients on platforms including Upwork. As more digital workers rely on international earnings for day-to-day income, demand has grown for payments that arrive quickly and predictably.

Network link

Under the partnership, Raenest customers will use TerraPay's rails for international payouts. The deal is positioned around speed, reliability and compliance for payments into India and the Philippines.

Raenest reports more than 1 million customers worldwide and more than USD $2 billion in processed transactions. It has raised more than USD $14 million from backers including QED, Google, Seedstars and Techstars.

Raenest says its product supports earnings from platforms such as Upwork and Fiverr, and that some payments can settle in under one hour. It highlighted payout speed as important for freelancers working in time-sensitive situations.

According to market data cited in the announcement, India has more than 1.6 million freelancers and the Philippines more than 1.5 million. The scale, the companies said, increases the need for consistent payout options for workers invoicing customers abroad.

Product scope

Raenest provides users with access to accounts denominated in USD, GBP and EUR. It also offers stablecoin options in USDT and USDC, international transfers and cards, and targets freelancers, creators, remote workers and digital-first businesses with cross-border income.

TerraPay operates a cross-border payments network and sells partners a single connection into its system. Its reach includes mobile wallets, bank accounts and cards across multiple countries, alongside regulatory coverage in various markets.

TerraPay says its network connects to more than 3.7 billion mobile wallets and 7.5 billion bank accounts across more than 156 countries. It is headquartered in London and has offices in Dubai, Milan, Miami, Singapore, Bogota, Johannesburg, Kampala and Bangalore.

The partnership comes as fintech firms compete for a growing segment of independent workers and small businesses earning from overseas clients. In this market, payout speed, fees, exchange rates and access to local banking remain central factors, especially where workers need to convert income quickly into domestic spending money.

Ani Sane, CBO and Co-founder of TerraPay, said the deal aims to provide stability for workers who depend on regular access to earnings.

"The global gig economy is accelerating faster than ever, and millions of independent workers now depend on steady, predictable access to their earnings," said Ani Sane, CBO and Co-founder, TerraPay. "Our partnership with Raenest is about strengthening the financial backbone that supports this growing workforce. By enabling faster and more reliable payouts into India and the Philippines, we're helping freelancers receive their income with the speed and certainty they deserve. Together, we're building a payout experience that keeps pace with how the world works today - simple, dependable, and designed for a truly global digital workforce."

Raenest described the expansion as part of a broader effort to reduce friction for users receiving international income and accessing banking services.

"At Raenest, we believe borders shouldn't be a barrier, and no one should be cut off from accessing global opportunities and banking services because of their geographic location," said Victor A, CEO and Co-founder, Raenest. "That's why we've partnered with Terrapay to ensure millions of Indian and Filipino freelancers and virtual assistants working remotely with companies and clients in the US, UK, Europe, and other parts of the world can get paid easily, faster, and with more value for their money."

The tie-up covers payouts into India and the Philippines as part of Raenest's rollout in both markets.