6 hours ago
28
Nigerian investment platform, Risevest has acquired a U.S. broker-dealer license through its affiliate, Risevest Financial Securities Limited. After Bamboo, the development has made the platform the second financial organization in the country to achieve such a feat.
In an email sent to its customers on Friday, Risevest noted that the development marked a major shift in its effort to transform global investing. The company reaffirms its mission to connect users with trustworthy, wealth-generating assets globally.
With the license, Risevest now can provide seamless access to U.S. and global markets for both individual and institutional investors thereby alleviating barriers to international investing.
The move also opens room for investors to trade across various locations under the Risevest umbrella and unlocks opportunities for more diverse investment options, expanding wealth-building avenues.
RisevestRisevest, founded by Eke Urum in 2019, is an e-investment company that is registered under the Corporate Affairs Commission of Nigeria (CAC). It helps users to invest in a diverse portfolio of U.S. Stocks, Real Estate, Stable Foreign Currencies, and other managed investment options. The company is affiliated with Risevest Technologies Limited.
In 2022, the investment startup secured regulatory approval with the United States Securities and Exchange Commission (SEC) which makes it a US Registered Investment Adviser. This earmarked its partnership and expansion to other parts of the world.
“We can enter into more global partnerships and bring additional offerings to our users. We can now open up the beauty of Rise to users across many other countries, including the US and the rest of Africa,” the company said then.
Also Read: Bamboo secures U.S. license to provide Africans with easy access to U.S. securities.
Risevest following Bamboo’s footstep
In December 2024, Bamboo, a Nigeria-based investment platform that allows Africans to buy and trade US stocks in real-time from their mobile phones and computers, acquired its U.S. broker-dealer license through its affiliate, Bamboo Securities L.L.C.
The license elevated its operations which saw its corporate clients and licensed brokers gain access to the US stock market.
“Licensed brokers across Africa can now provide their clients access to the U.S stock market. Corporate clients and retail customers can also enjoy seamless US market access,” the company said.
Also, the license acquisition opens the door for Bamboo to collaborate with licensed broker-dealers across Africa. It also extends its B2B offerings to businesses aiming to offer U.S. investment opportunities to their users.
Bamboo operates as a digital investment platform that provides real-time access for Africans to buy, hold, or sell stocks, exchange-traded funds (ETFs), and American depositary receipts (ADRs) in the United States. It also allows those across the socioeconomic bracket to buy and trade global stocks on its app.
Like Bamboo, Risevest has now joined the line.
Amidst the flow of its new feat, the investment platform in January received a disclaimer from the Nigerian Securities and Exchange Commission (SEC). The regulator warned Nigerians against engaging in investment-related transactions with Risevest and three other companies.
However, the investment platform responded to the allegation with an explanation of its legal operations in Nigeria. The company said that Risevest Cooperative Society is registered under the Cooperative Society Laws of Lagos State with Registration No. 17080.
RisevestThe company likewise added that its Nigerian operations are supported by Meristem Trustees Limited, a company licensed by the SEC, and Chaka Technologies Limited, an SEC-licensed digital sub-broker.
“These structures empower us to manage and invest our users’ funds in both local and global markets. We have always operated in line with guidelines established by regulators to safeguard consumers,” the company said.
On how it plans to settle the dispute with the regulator, Risevest noted that it has contacted the SEC to understand the concerns raised in the warning and assured its users of the state of its daily operations.
English (US) ·