Eric Jackson departs Hisa post-Risevest acquisition
Portfolio - People | Nov 21, 2024 | EIN
Eric Jackson, co-founder and former CEO of Kenyan fintech startup Hisa, has exited the company shortly after its acquisition by Nigerian investment platform Risevest. Initially appointed as CTO post-acquisition, Jackson's sudden departure raises questions about the integration process and future leadership strategies at the firm. Under his leadership, Hisa had thrived, securing regulatory approvals and expanding its market presence. The company aimed to democratize investment in Kenya, addressing a significant gap. The acquisition by Risevest, approved by the Capital Markets Authority of Kenya (CMA) in September 2024, allowed the Nigerian company to enter the Kenyan market. While Hisa retained its brand and operations, Jackson moved on to focus on the Mashuuru Sports Complex, a project intended to improve sports infrastructure in East Africa.
Sectors
- Fintech
- Sports Infrastructure
- Investment
Geography
- Kenya – Hisa is a Kenyan fintech company that has achieved significant growth in the local market.
- Nigeria – Risevest, the acquiring company, is a Nigerian investment platform expanding its footprint into Kenya.
- East Africa – Eric Jackson's new initiative, the Mashuuru Sports Complex, is focused on enhancing sports infrastructure in East Africa.
Industry
- Fintech – Hisa is a fintech company involved in providing investment opportunities in local and international markets.
- Sports Infrastructure – Eric Jackson's new focus on developing the Mashuuru Sports Complex highlights involvement in the sports infrastructure sector.
- Investment – The acquisition by Risevest, a Nigerian investment platform, signifies operations within the investment sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Eric Jackson | Co-founder and former CTO of Hisa | Person | Eric Jackson is the co-founder of Hisa and served as CTO post-acquisition before departing to focus on a sports infrastructure project. |
| Hisa | Target Company | Company | A Kenyan fintech startup providing access to stock markets. |
| Risevest | Bidding Company | Company | A Nigerian investment platform that acquired Hisa to expand its operations into Kenya. |
| Capital Markets Authority of Kenya | Regulatory Authority | Government | The CMA is the regulatory body that approved the acquisition deal between Risevest and Hisa. |