Risevest, a Nigerian investment platform, has acquired digital trading startup Chaka.

A report by TechCabal states that Tosin Osinbodu, Chaka’s founder and Eke Urum, the founder of Risevest, confirmed the deal was recently concluded and approved.

“We’re excited, especially from the perspective of people; high level and strategically, this deal makes sense,” said Osinbodu. “I’m excited about how Chaka’s product will evolve and how we’re going to learn from the Risevest team.” 

According to the report, Chaka and RiseVest will remain separate products adding that Chaka’s ownership and cap table will get updated, “everything else remains; the team stays the same.”

RiseVest and Chaka will continue to work on their product roadmaps and collaborate to improve products. According to Eke, deals like this are essential to Nigeria’s tech ecosystem and present an opportunity for collaboration. 

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