Risevest, a prominent Nigerian wealth management platform, is reportedly planning to acquire Hisa, a Kenyan fintech startup that allows users to invest in US stocks. This strategic move is aimed at expanding Risevest’s operations into the Kenyan market, marking its second acquisition after purchasing Chaka, a digital trading startup, in September 2023.
The acquisition of Hisa aligns with Risevest’s broader strategy to enhance its presence in Africa and offer more diverse investment opportunities to its users. By integrating Hisa’s platform, Risevest will not only gain a foothold in Kenya but also strengthen its ability to provide international investment options, particularly in US stocks. This development is part of a growing trend of Nigerian fintech companies expanding their operations across the continent to tap into new markets and diversify their user base.
Risevest was established in 2014 to provide Nigerians with access to dollar-denominated investments, helping them hedge against local currency devaluation and inflation. Over the years, it has grown to become a significant player in the Nigerian fintech landscape, offering a range of investment products managed by a world-class team using smart algorithms.
Hisa, on the other hand, has been making waves in the Kenyan fintech scene by enabling users to buy fractional shares of US stocks, thereby lowering the entry barrier for investors. This acquisition is is expected to strengthen Hisa’s abilities and expand the services it offers as part of Risevest.
This move comes shortly after Bamboo, another Nigerian online stock platform, began operations in South Africa, highlighting a broader trend of Nigerian fintechs expanding across Africa. Such expansions are not only strategic for growth but also essential for fostering financial inclusivity and providing diverse investment opportunities to a larger audience across the continent.
The acquisition of Hisa is expected to bring about significant synergies between the two companies, allowing for a more comprehensive and robust platform for African investors. As Risevest continues to grow its portfolio, this move signifies a critical step in its journey to become a leading investment platform in Africa
