Nigerian fintech Risevest has obtained a Fund and Portfolio Manager licence from Securities and Exchange Commission Nigeria, marking a significant milestone that formally brings the company’s investment operations under Nigeria’s capital market regulatory framework.
The approval was granted through Risevest’s subsidiary, RV Fund Management Limited, following what the company described as an extensive review process with the regulator.
“This approval reflects months of rigorous review and engagement,” Eke Urum, Risevest’s co-founder, told users in a statement. “We’re grateful to the Securities and Exchange Commission for the critical work they do in safeguarding Nigeria’s financial system and maintaining standards that protect investors. Strong regulation builds strong markets and strong markets build lasting wealth.”
The licence represents a turning point for the fintech, which had previously faced regulatory scrutiny over its operational structure.
What you need to know
Risevest’s approval follows a period of tension that began in January 2025 when the SEC cautioned Nigerians against investing through the platform, citing the absence of the appropriate licence required for participation in Nigeria’s capital market.
At the time, Risevest maintained that its activities were protected through a trusteeship arrangement with Meristem Trustees Limited, an SEC-licensed trustee, while it worked towards securing direct authorisation.
The newly obtained licence effectively resolves those concerns, granting Risevest independent regulatory standing and signalling increased oversight of its portfolio management activities.
Strategic partnerships and acquisitions paved the way
Prior to the approval, Risevest relied on partnerships and acquisitions to support compliance and market access. A notable move was its 2023 acquisition of Chaka, an SEC-licensed digital trading platform that enabled Nigerian investors to access global securities.
That transaction provided regulatory cover for parts of Risevest’s offering while reinforcing its broader ambition to operate within formal market structures.
The company’s regulatory milestone now positions it alongside other licensed digital investment platforms such as Bamboo and Trove, reflecting intensifying competition within Nigeria’s cross-border retail investing segment.
The approval arrives amid accelerating retail engagement in Nigeria’s capital market. Data from mid-2025 showed trades by Nigerian retail investors rising sharply month-on-month, underscoring growing appetite for structured investment products and alternative asset exposure.
By securing regulatory authorisation, Risevest is now positioned to legally deepen its participation in this expanding segment while strengthening investor confidence in its offerings.
Growth ambitions extend beyond Nigeria
Founded in 2019 by Eke Urum alongside Bosun Olanrewaju and Tony Odiba, Risevest provides curated portfolios spanning US equities and global fixed-income assets, allowing users to invest in dollar-denominated instruments from Nigeria.
The company has also pursued geographic expansion. In 2024, it acquired Hisa, extending its footprint into East Africa and signalling broader continental ambitions.
With regulatory clarity now secured in its home market, Risevest’s latest milestone could provide a foundation for product expansion, deeper institutional partnerships, and accelerated user acquisition as Nigeria’s digital wealth management ecosystem continues to mature.
Talking Points
It is encouraging to see Risevest secure a Fund and Portfolio Manager licence from Securities and Exchange Commission Nigeria, a move that reinforces its commitment to operating within Nigeria’s formal regulatory framework and strengthening investor confidence.
The approval represents more than compliance; it signals institutional validation of Risevest’s business model and its role in expanding access to global investment opportunities for Nigerian retail investors.
This milestone also demonstrates the company’s resilience and strategic focus, particularly after navigating prior regulatory scrutiny. Successfully transitioning from a partnership-led compliance structure to direct authorisation highlights strong governance maturity.
At Techparley, we see this development as a positive indicator for Nigeria’s digital investment ecosystem. Regulatory clarity for platforms like Risevest can accelerate broader participation in the capital market while promoting transparency and investor protection.
As retail participation in Nigeria’s capital market continues to rise, Risevest’s licensed status places it in a favourable position to capture growing demand while innovating responsibly within the boundaries of regulation.
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