Victor Alade’s journey into the tech world is nothing short of remarkable. From humble beginnings in a cyber café to co-founding one of Africa’s fastest-growing fintech companies, his story is a testament to perseverance, innovation, and a relentless drive to solve problems.
Victor’s fascination with technology began in high school when he first encountered the internet at a local cyber café. Despite not owning a computer, his determination to learn how to build websites was undeterred. Armed with only a Nokia phone, Victor would write code on his device and then test it during his visits to the café. This early passion for technology led him to pursue a degree in computer engineering, setting the foundation for what would become a highly successful career in tech.
After graduating, Victor’s career quickly gained momentum. He started by teaching college students how to use Windows 8, earning a few bucks while honing his technical skills. He also worked at a cyber café, where he earned a modest N3,500 (about $40) per month. But his big break came when he joined Jumia, Africa’s first tech company to go public on the Nasdaq. As the first Nigerian engineer at Jumia, Victor played a crucial role in building the company’s fintech arm, marking the beginning of his impactful journey in the financial technology sector.
Victor’s entrepreneurial spirit didn’t stop there. His first foray into fintech was with Jostpay, a cryptocurrency payment gateway, which gave him valuable experience in the evolving world of digital finance. He later joined Andela, a tech placement startup, where he was instrumental in setting up their Salesforce developer process, further establishing himself as a leader in tech. His leadership skills were further honed during his tenure as an engineering manager at Acumen, where he managed engineers from across Africa.
It was during his time at Andela and Acumen that Victor identified a significant problem faced by remote workers in Africa: getting paid in global currencies was a massive headache, often taking weeks or even months. Determined to find a solution, Victor teamed up with his friends Richard and Sordruldden to create Raenest, a platform designed to help African freelancers and remote workers receive payments from anywhere in the world seamlessly.
In a recent LinkedIn post by Caleb Maru, Victor’s journey was highlighted, showcasing the rapid growth of Raenest. The platform quickly gained traction, hitting 80,000 users in just three months without any marketing. In 2022, Victor and his co-founders decided to fully commit to Raenest, and their efforts soon paid off. The company raised over $3 million from notable investors like Google, Ventures Platform, P1 Ventures, and Ten13. Raenest also tripled its revenue, achieving profitability in 2023.
Victor Alade’s story is one of relentless innovation and determination. From writing code on a Nokia phone to leading a fintech revolution in Africa, he has always been driven by a passion for solving hard problems. Raenest’s success is impressive, but it’s clear that Victor is just getting started on his mission to empower Africa’s tech community.