Sylvia Duruson
Risevest, a Nigerian investment platform, has acquired a U.S. broker-dealer license through its affiliate, Risevest Financial Securities Limited. This achievement makes it the second financial organization from Nigeria to obtain this credential, following Bamboo’s earlier acquisition.
The company announced this development to customers via email last Friday, framing it as a significant milestone in their mission to transform global investing. Risevest emphasized their commitment to connecting users with reliable, wealth-generating assets worldwide.
With this license, Risevest can now provide both individual and institutional investors seamless access to U.S. and global markets, effectively removing barriers to international investing. Investors will be able to trade across various locations under the Risevest umbrella, unlocking more diverse investment options and expanding wealth-building opportunities.
Founded in 2019 by Eke Urum, Risevest operates as an e-investment company registered with Nigeria’s Corporate Affairs Commission. The platform enables users to invest in various assets including U.S. Stocks, Real Estate, and Stable Foreign Currencies. Risevest is affiliated with Risevest Technologies Limited.
The company previously secured regulatory approval from the United States Securities and Exchange Commission in 2022, becoming a U.S. Registered Investment Adviser. This earlier milestone enabled the company to establish global partnerships and extend its services to users across different countries, including the U.S. and other African nations.
The new broker-dealer license elevates Risevest’s operations significantly. Corporate clients and licensed brokers can now gain direct access to the U.S. stock market through the platform. Like Bamboo, Risevest can now collaborate with licensed broker-dealers across Africa and extend B2B offerings to businesses seeking to provide U.S. investment opportunities to their users.
Despite this achievement, Risevest faced regulatory challenges in January when the Nigerian Securities and Exchange Commission issued a disclaimer warning Nigerians against engaging in investment transactions with the company and three other entities.
Risevest responded by clarifying its legal operations in Nigeria, stating that Risevest Cooperative Society is registered under the Cooperative Society Laws of Lagos State. The company also explained that its Nigerian operations are supported by SEC-licensed entities including Meristem Trustees Limited and Chaka Technologies Limited, enabling them to manage user funds in both local and global markets while adhering to regulatory guidelines.
The company has reportedly contacted the Nigerian SEC to address the concerns raised in the warning.
