In a significant move within the fintech landscape, Nigerian investment platform Rise has announced the acquisition of Kenya-based Hisa. This strategic expansion underscores Rise’s ambition to cement its presence in the East African market and leverage regional growth opportunities.

Rise, a fintech start-up launched with the vision of connecting users to a global portfolio of stocks and securities in US dollars, is now poised to broaden its reach with this acquisition. Hisa, which has made strides in creating seamless investment opportunities for Africans across local and international markets, will complement Rise’s existing offerings by providing access to a diverse range of financial products, including stocks, ETFs, bonds, and alternative investments.

The acquisition, which has received the green light from Kenya’s Capital Markets Authority (CMA), will see Hisa retain its brand identity and operational autonomy. This decision aligns with Rise’s commitment to preserving the established market presence and culture of its new acquisition. “Hisa resonates well with Kenyans, and we have no plans on changing it,” said Eke Urum, CEO of Rise. “Our focus is on understanding the company, its culture, and the market dynamics as we integrate.”

Hisa, founded in 2020 by Eric Jackson and Eric Asuma, initially raised $250,000 in pre-seed funding and was valued at $5 million post-money. Jackson, who previously served as Hisa’s CTO, will continue in that role under Rise’s ownership. Asuma, the co-founder of Kenya Wall Street and a key figure in Hisa’s early success, will transition to a strategy advisor role.

This acquisition reflects a broader trend of consolidation and expansion in the fintech sector, as companies seek to diversify their services and enter new markets. For Rise, this move not only enhances its market position but also aligns with its strategic vision of offering a comprehensive, borderless investment platform.