By Adedapo Adesanya
Nigerian fintech company, Rise, has officially announced the acquisition of Hisa, a Kenyan investment and educational content startup as part of its expansion plans into the East African market.
“This acquisition is essential to our mission to connect as many Africans as possible with the best global wealth-building opportunities while expanding our presence in East Africa,” it said in a blog post officially announcing the move that has been widely reported previously.
The value of the deal was not disclosed.
Hisa’s innovative platform simplifies cross-border investments, making it easier for everyday Africans to access diverse assets like stocks, ETFs, bonds and alternative investments and the company will be seeking to bank on this to grow its footprint.
“This perfectly aligns with our goal of empowering you to build and grow your wealth. By bringing Hisa into the Rise family, we’re taking a significant step forward in offering even more diverse and accessible investment options locally and internationally,” the company explained.
“This move strengthens our footprint in the East African market and reaffirms our commitment to democratising access to top-tier global investment opportunities.
“By joining forces with Hisa, we believe we can offer a more comprehensive investment experience, helping broaden our reach in the region and beyond and bring our mission closer to reach,” it added.
Business Post understands that Hisa’s workforce will stay on in restructured roles as Rise’s CEO, Mr Eke Urum will become the new CEO from Mr Eric Jackson, who will become chief technology officer (CTO). He will occupy the position previously occupied by his co-founder, Mr Eric Asuma, who will mount the title of strategic advisor.
The company’s operations will be led by Ms Leah Njoroge, who will handle all seven Hisa employees.
“We are incredibly excited about this new journey, the future and all the opportunities it will bring to you, our valued users. With Hisa on our team, we are poised to deliver a more seamless and expansive investment experience, reinforcing our shared vision of financial empowerment to more Africans,” Rise added.