Eke Uru, founder of Rise and Eric Asuma, founder of Hisa and The Kenyan Wall Street
Rise, a Nigerian global investment startup, has made its second acquisition in less than a year after taking control Hisaa Kenyan startup that makes stock trading easier.
- The acquisition gives Rise the opportunity to operate in the Kenyan market without obtaining new licenses as Hisa is already approved by the regulator.
- Hisa will retain its brand name, management and staff to enable seamless operations as the acquired company is familiar with the specificities of the local market.
- Former Hisa CEO Eric Jackson will now assume the role of Chief Technology Officer (CTO) and Hisa Finance Partner Leah Njoroge will take over as Chief Operating Officer.
“This acquisition is perfectly aligned with our shared vision of expanding investment opportunities for Africans. This transaction not only expands Hisa’s reach but will also enable a significant technological upgrade. We are grateful to our early investors who believed in and supported our journey. This milestone is as much theirs as it is ours.” – Eric Asuma, Co-Founder of Hisa.
“We don’t have plans to make many changes; it’s time to understand the business, the culture, the context and the market we’re entering,” said Eke Urum, CEO of Rise. Technological cabal.
Hisa was founded in 2020 by Eric Asuma and has raised $250,000 in pre-seed funding from angel investors including Faida Investment Bank, Estonian venture capital startup Wise Guys, Chipper Cash founders Ham Serunjogi and Majid Moujaled – at a post-money valuation of $5 million.
Rise, meanwhile, was also founded in 2020 by Eke Urum, with backing from Ventures Platform and Techstars, and has since grown to 600,000 users. In September 2023, it also acquired another digital trading startup called Chaka.