A report from TechCabal has stated that Risevest, a Nigerian fintech that allows users to purchase stocks, is currently in discussions to acquire Hisa, a Kenyan startup that also allows access to purchase US stocks.
Details
According to sources, the acquisition will allow Risevest to expand to the Kenyan market without requiring Risevest to register as a new entity or obtain new licenses.
Digging Deeper
According to sources, discussions are still ongoing with no word on if the acquisition will go through.
Hisa raised $250,000 in pre-seed in 2022 which valued the startup at $5 million.
What They’re Saying
“We’re always discussing with other companies to see where potential alignments can be created, but for now, nothing is concrete with Hisa yet,” Eke Urum, Risevest’s founder and CEO, told TechCabal in a statement.
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