Startup Wise Guys receives a stake in Nigerian fintech Rise
Estonian accelerator Startup Wise Guys has received a stake in Nigerian financial technology company Rise, which has acquired Startup Wise Guys' portfolio company Kenyan fintech Hisa. Details of the deal were not disclosed.
In 2023, Hisa raised €65K from the accelerator in exchange for a 12% equity stake in the SaaS Africa 2023 batch. Later, Startup Wise Guys invested in Hisa along with Kenyan Faida Investment Bank and Chipper Cash founders Ham Serunjogi and Majid Moujaled. The total amount of the round was €250K at a post-money valuation of $5M.
Founded in 2020 by Eric Jackson, Eric Asuma, and Eunice Thairu, Hisa allows customers to invest in both local and global assets including stocks, ETFs, bonds, and alternative investments. Hisa is also an educational platform for those who want to learn how to invest, how the trading markets work, etc.
Following the acquisition, Hisa CEO Eric Jackson will become the company's chief technology officer (CTO). Eric Asuma will remain with the company as a strategy advisor. Hisa will keep its brand name, management, and staff to continue operations.
Founded in 2020 by Eke Urum, Bosun Olanrewaju, and Tony Odiba, Rise Vest allows users to invest in US stocks, US rental properties, and global fixed income assets, generating returns of 8% to 15% and more for users. The minimum amount of investment is $10. Rise Vest has 600K users.
Launched in 2012, Estonian Startup Wise Guys is an accelerator that invests in early-stage startups from the Baltic, Central European, and African regions. Startup Wise Guys typically invests up to €500K per startup through multiple funds that manage €45M and are backed by more than 150 investors. The CEO of Startup Wise Guys is Cristobal Alonso.