Nigeria’s Oneremit Targets UK Expansion in March 2027 as Cross-Border Payments Exceed $200m

Nigerian cross-border payments company Oneremit plans to expand into the UK in March 2027, as it looks to grow the payment infrastructure it provides to businesses trading across international markets.

The company announced its plans, saying it had processed more than $200 million in outgoing cross-border payments in under two years. Its customers include importers, exporters and service businesses that need to pay suppliers, receive funds and manage transactions across multiple countries.

The proposed UK expansion would give Oneremit another market from which to serve businesses making and receiving payments in pounds sterling. The company said regulatory work is underway ahead of the planned launch, while it targets a June 2027 launch in Ghana.

The two markets would extend its existing regulatory footprint in Nigeria, Canada and the United States.

Oneremit plans to expand stablecoin settlement

Alongside its geographical expansion, Oneremit plans to extend stablecoin settlement to additional trade corridors following the introduction of the approach in the Nigeria–China corridor through a partnership with OwlTing.

Stablecoin-based settlement can provide an alternative mechanism for moving value between markets, but its practical benefits depend on the payment route, conversion arrangements, counterparties and compliance requirements involved.

The company said its next phase would focus on widening the markets available to business customers, improving settlement speeds on key trade routes and strengthening the compliance infrastructure underpinning its services.

The challenge of paying suppliers across borders

For African businesses sourcing goods internationally, cross-border payments can involve multiple currencies, banking systems and compliance checks. Delays or uncertainty around settlement can complicate supplier relationships and working-capital management, particularly for importers and exporters making frequent payments.

Oneremit is positioning its platform around that operational problem, aiming to let businesses pay and receive money across more than 100 countries. Its reported $200 million in outgoing payment volume provides an indication of activity on the platform, although the company has not disclosed a breakdown by market, customer segment or transaction corridor.

“Our goal for 2027 is simple. An African business should be able to pay a supplier anywhere in the world with the same confidence it has paying one at home,” said Hammed Afenifere, Oneremit’s CEO and co-founder.

Hot this week

Monzo enters Nigeria’s remittance market, turning up the heat on African fintechs

Monzo is making its biggest play yet for the...

9 UK Startup Accelerators African Founders Can Apply to in 2026

In 2023, Black founders in the UK raised only...

Anthropic Is Offering Startups a Free Year of Claude Team Plus $1,000 in AI Credits

Anthropic has expanded Claude for Startups, offering qualifying early-stage companies a free year of Claude Team for up to five premium seats plus $1,000 in API credits.

UK government-backed “Women Backing Women”fund announces first close at £130m

The "Women Backing Women" fund, which is backed by...

5 Top startup accelerators for Black founders in the UK

Black entrepreneurship in the UK is thriving in terms...

UK Unveils AI Security Fund, Pledges More Support Fund for Startups

The UK government has announced a £25 million challenge...

Airtel Money Reports $830m Revenue in First Results Since London Listing

Airtel Money has reported revenue of $830 million for...

The UK-Africa Corridor to Watch: 10 African-Founded Startups Scaling in the UK

African-founded technology companies are increasingly building businesses that operate...

LemFi Expands Beyond Remittances With UK Savings, Credit and Global eSIM

London-based fintech LemFi has added savings and credit products...

Nigerian-Founded Utiva Selected for UK Government-Backed AI Jobs Programme

Nigerian-founded technology training company Utiva has been selected for...

Top 5 UK Banks for Immigrants: Accounts to Consider for New Arrivals

Choosing a UK bank account as a new immigrant...

What Moniepoint’s UK Accounts Reveal About Its Remittance Exit

Nigerian fintech Moniepoint’s latest UK accounts reveal a dramatic...

Related Articles

Popular Categories