Nigerian fintech company Rise has made a strategic move in the East African market by acquiring Hisa, a Kenyan investment startup. As reported by TechCabal, This marks Rise’s second acquisition within a year, following approval from Kenya’s Capital Markets Authority (CMA).
The acquisition allows Rise to expand its operations into Kenya while maintaining Hisa’s brand identity and existing team. Rise CEO Eke Urum emphasized the importance of preserving Hisa’s local resonance, stating, “We like the Hisa name because it resonates well with Kenyans.”
Key leadership changes include:
- Eric Jackson, former Hisa CEO, transitioning to Chief Technology Officer
- Leah Njoroge appointed as Head of Operations
- Eric Asuma, Hisa co-founder, remaining as a strategy advisor
While Rise did not disclose the transaction details, TechCabal reported as informed by an insider that the deal involved a mix of stock and cash
Rise plans to take a measured approach to integration, with Urum explaining, “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.”
This acquisition strengthens Rise’s position in the African fintech landscape, potentially offering customers in both Nigeria and Kenya enhanced access to global investment opportunities. As the fintech sector continues to evolve rapidly across the continent, such strategic partnerships may become increasingly common.