Investing is generally seen as an endeavor that is hard to understand. The fact is, it can be intimidating and risky, so most people would rather ‘save’ their money in a bank account where they can see it. The problem with this is, the money just sits there, earning little or no interest at all to keep up with inflation.
Inflation is real. The history of the naira’s performance against the dollar is a story of a consistent downward slide in value. Since 1972, the naira has lost an average of 12% of its value every year. That’s a scary reality, and the only way to protect your money from this loss in value is by investing in a stable currency such as the dollar.
Investing in dollars can be quite complicated, so a group of people passionate about technology, finance and investment came together to make dollar investments easy for everyone.
Today, we are excited to introduce Rise, founded by Eleanya Eke (former co-founder of crypto exchange, Buycoins) and Bosun Olanrewaju (ex-Andela fellow). Rise is a growing Nigerian startup that has built an app – Rise Vest; to make automatic dollar investments in US real estate, stocks, and Eurobonds possible. With as low as $10, anyone can begin investing in United States securities and assets.
The company started as a free investment club helping its members to invest in US stocks and real estate from Nigeria. As the group grew, the idea was further nurtured to build a holistic wealth management app and community that offers financial guidance and long-term investing to help thousands of people stabilize their financial future.
Here’s how the app works: people set an investment duration, select an asset class (US stocks, US real estate, Eurobonds, or a mixture of all of them) and begin funding the plan with as little as $10.
Rise requires little to no experience in investing. Its team of experts takes care of everything. It has an intuitive wallet that allows users to add their bank and cards so they can fund their plan at any time.
Rise also makes it easy for you to learn about investment and meet other investors through its free investment club. Members of this club include beginners, everyday people and finance experts who are willing to give new members free advice about money and show you where to get the best returns on investments.
In 2019 alone, Rise recorded up to 23.78% returns on stocks (their defensive portfolio returned less than the broader US market but far higher than almost all dollar investments available locally) and 17.48% returns on real estate investments. Assets under management at the start up are already at half a million dollars and growing fast.
Rise is incorporated in the United States and Nigeria and invests for its users in Nigeria under a cooperative license, and its portfolio of global dollar investment options includes stocks of leading companies like Facebook, Amazon, Delta Airlines and more. It has an intuitive wallet that allows users to add their bank and cards so they can fund their plan at any time.
Your money is safe with Rise. The app and its systems are protected with the same security measures used by top banks around the world.
Get Rise here now and protect your money from inflation with easy dollar investments from as low as $10.
Learn more about Rise on rise.capital
Jan. 18: Bonus Built in Africa episode: Town Hall meeting with Peter Salovey, President of Yale University
On March 25, 2021, Techpoint Africa will be hosting the brightest minds in decentralised finance/crypto at the Digital Currency Summit tagged “Building the money of the future” Click here for more details, registration and sponsorship. Location: Fourpoint by Sheraton, V.I. Lagos.