Risevest has secured an official licence from the Securities and Exchange Commission (SEC), effectively closing a significant compliance gap that had previously clouded its operations. The fintech company, known for enabling users to invest in U.S.-dollar assets like U.S. stocks and global fixed-income portfolios, was granted a Fund and Portfolio Manager licence through its subsidiary, RV Fund Management Limited.

Eke Urum, Risevest’s co-founder, conveyed the news to users, describing the licence as the result of a ‘rigorous review and engagement’ with regulators. He emphasized the critical role of strong oversight in fostering investor confidence.

This development positions Risevest alongside a growing number of fintech investment firms, including Bamboo and Trove, that have recently obtained SEC licences. This allows them to compete for a share of Nigeria’s expanding retail investment market.

Under Nigeria’s capital market rules, this licence allows Risevest to operate fully within the regulated framework and offer investment products to the public under formal oversight.

The approval brings an end to months of uncertainty that followed a public warning issued by the SEC in early 2025. The SEC had stated that Risevest’s earlier entities were unlicensed and not authorised to offer capital-market services, raising questions about the platform’s legal standing. At the time, the company assured customers that funds were protected through trusteeship arrangements with licensed firms and regulatory partnerships.

Risevest has expanded its offerings to include assets denominated in dollars and has also grown regionally, including through the 2024 acquisition of Hisa, a Kenyan investment startup.