One of Nigeria's global investment startups, Rise has completed its second acquisition in under one year after acquiring Hisa a Kenyan startup that facilitates stock trading.
Founded in 2020 by Eric Asuma, Hisa has raised US$250,000 in pre-seed funding from angel investors such as Faida Investment Bank, Estonia-based VC Startup Wise Guys, Chipper Cash Founders Ham Serunjogi and Majid Moujaled at a post-money valuation of US$ 5 million.
Leveraging on Hisa, the latest acquisition will allow Rise to operate within the Kenyan market without obtaining new licenses. Hisa will retain its brand name, management, and staff to allow seamless operations.
According to TechCabal, Eke Urun Rise CEO said,
“We like the Hisa name because it resonates well with Kenyans so we have no plans on changing it. We are not planning to make a lot of changes; it is time to understand the company, the culture, the context, and the market that we are coming into.”
Moving forward, Hisa's CEO Eric Jackson will become chief technology officer (CTO), a position he previously held before Eric Asuma, Hisa’s co-founder and then CEO, stepped down.
