Thank you very much for this Bridget001. However, I found something rather unsettling when I checked adviserinfo.sec.gov to see Risevest's registration, and it can be seen in the screenshot below. You, and anyone else, can visit the link in the address bar of my screenshot to confirm this yourselves. If 2-3 of you also confirm it, then we have a question to ask Risevest.
Ah I'm just seeing this. This is brilliant work @ Bridget001! You have done very well. This is very interesting.
(PS: can you add links/references for info like their insurance cover and their registration with the CRD in the USA? Thanks.
Bridget001: Notes on Risevest ABOUT THE COMPANY Risevest is a digital asset manager that connects Nigerians to dollar denominated investments around the world: 1) Euro.bond 2)US Real Es.tate 3)US Stocks
-Was formerly Cashestate from March 2019 which was only real estate. In November 2019 new options like Eurobond and US stocks were added and relaunched as Risevest.
-Risevest is registered with the Corporate Affairs Commission as Rise Vest Technologies Limited with RC number 1622382 and provide financial services under a Lagos State Cooperative License number LSCS 17080.
-Risevest are also registered investment advisors with the United States of America securities and exchange commission as Rise wealth Advisors with CRD number 306658.
-Risevest operates in Nigeria and is open to Nigerians anywhere in the world that have BVN.
INTEREST RATES OFFERED 1) EURO.BOND: 10-12% p.a.ROI(Return Of Investment)
2) US REAL ESTA.TE: 13-15% p.a.
3) US STO.CKS: 12-14% p.a. ROI. Last year record.ed 27% . Made up of 20+ high growth sto.cks. You don't need a dom account for it. You can fund in dollars or naira which becomes dollars on the app. -You can also withdraw in naira or dollars.
-You can invest for 3, 6 or 12mon.ths and rollover to com.pound your interest. -Minimum investment is $10 and you can top up your inves.tments at any time.
FEES 1)Management Fees: No fees on investment with returns below 10%. 1.5% on investment with returns between 10% and 15%. 2% on investment with returns above 15%. The management fee is charged annually after your investment matures not before. 2) Withdrawal Fees -NGN 35 transfer fee charged for withdrawals into bank accounts. -And 5% withdrawal penalty fee charged on all withdrawals made from a locked (yet to mature) plan.
3) Transaction Fees - No transaction fee if you transfer to your Risevest unique Providus Bank Account on the app. -Card Payments: NGN Cards: From 1.4% to (1.5% + NGN 100) per transaction and capped at NGN 2000. USD Cards: From 2.9% to (3.9% + NGN100) per transaction.
ACCESS/INVESTMENT CHANNELS Risevest is available on Android and iOS.
SUSTAINABILITY Risevest seems sustainable having been in business for 1+years and having successfully completed two accelerator programs; LABS powered by ARM in Lagos, and Techstars & Western Union accelerator in Denver, USA.
INSURANCE -Risevest claims that "as an investment firm, your investment are insured by the US government for up to $500,000 and all other investments are held by our SEC registered trustees to ensure security and safety. With our cooperative license with the Lagos state government, your investment with us is recorded and audited by the state. In the event of a liquidation the users account is credited with their investment."
LIMITATIONS -- You can liquidate your investment at any time but doing so before maturity may cost you 5% penalty fee. -- You can't select individual stocks, they do it for you.
SECURITY AND REGULATION Their SEC registered trustees, ARM Holdings Limited monitors and maintains investments to ensure peace of mind for users and guarantee the integrity of assets and investment process. App features PCI-DSS (bank level) security to protect investments from unauthorized access.
SUMMARY -Pros -- It seems to belong to a stable company that has been running business for a while. -- The owners are visible online and can be contacted and held accountable if Risevest has hiccups. -- Safety from naira devaluation because of the dollar investment opportunities. -- Telegram group where investors get to interact with one another and the admins including the CEO. Financial edu.cation is also shared there. -- Monthly investors' zoom meeting. -- You can liquidate your investment at any time. -- This looks like a low to high risk investment, considering the range of assets that someone can invest in. -- Diversification: Ability to invest in Euro.bond, US real estate and stoc.ks.
Cons -- Only available on Android and iOS. Not on web yet. -- Withdrawal takes 3 to 5 working days before it lands in your account because investments are in US and have to go through a process.
Happy Investing!
If you want to invest with Risevest kindly use my referr.al code: MISF3KC8
enigmatique: All I can do is to laugh. At least when the dust settles, we will return to reasonably reviewing and investing in companies. Hehehe.
As for anyone that loses money, take your L, move on, and never make this kind of mistake again. Investing is a marathon, not a sprint, and while it's best to learn from data, research and advice, learning from experience can be valuable too, because it makes the lesson visceral, not just vicarious or theoretical. Better to lose 250k now than lose 250 billion later.
I have been thinking about this and I suspect that laughing at the woes of people that bought into the map must have been insensitive and maybe disrespectful. Apart from listening to the advice of experienced investors, I personally acquired the discipline to avoid such "too good to be true" investments due to getting burned by the bull market of krippto currency in late 2017, so I shouldn't have laughed at others when they got burned too as that jest could distract them from the lesson and discipline that they could gain from the bitter experience. So here's my unreserved apology to the house. Make una no vex.
Risevest is a good idea. What subtopics would the review consist of?
A review should contain sections like (but not limited to): - About the Company. - Interest rate offered. - Investment channel/medium. - A list of the company's key executives with links to their LinkedIn profiles. - Sustainability of the business. - Link to the company's FAQ. - The nsurance cover on investors' funds if any. - Limitations of the company/investment product. - Pros. - Cons. - Summary.
You can take a look at the one I did for PayvestCarbon below for inspiration.
- Company FAQ: https://customersuccess.getcarbon.co/portal/en/kb/carbon-nigeria/investment-payvest - Insurance: No insurance cover of funds but their FAQ here https://customersuccess.getcarbon.co/portal/en/kb/articles/how-is-my-money-protected had this to say: "As with everything else on the Carbon service, security is guaranteed.PayVest investments are protected and always available for withdrawal, anytime you wish. Your funds are safe as they are managed by One Finance and Investments Limited (RC No: 1044655), which is licensed and regulated by the Central Bank of Nigeria." - Limitations: -- You can only have 5 running investments (gotten from their FAQ). -- You can liquidate your investment at any time but doing so may cost you the accrued interest. - Summary:
Cons -- It’s not clear if they’ve been deregistered by CBN or CBN has just forgotten to mention them on the actual pages of their site apart from a PDF file they last updated on 31st December, 2019. -- The max possible interest is 15-16% per annum subject to a withholding tax of 10% on that interest, giving a take home of 13.5-14.4% per annum, which is rather low- especially in the eye of an investor that’s coming from the agritech sector. -- PayvestCarbon is only available on Android at the moment. -- If you liquidate your investment before maturity, it may cost you the accrued interest. In detail, here's what they have to say: (source: https://customersuccess.getcarbon.co/portal/en/kb/articles/will-my-investment-be-affected-if-i-liquidate-my-investment-before-maturity)
Pros -- It seems to belong to a stable company that has been running business for a while. -- The owners are visible online and can be contacted and held accountable if PayvestCarbon has hiccups. -- One Finance was registered with CBN as a finance company as recently as 31st December, 2019. -- You can liquidate your investment at any time. -- This looks like a low-medium risk investment to me. (IMO only treasury bills is low risk, and no investment is no risk investment). -- Diversification: It's an investment in another industry apart from agri-tech, which helps achieve one of the goals of this thread: diversification.
Quick Question; Are we limiting our options to digital investment (short term) or we might be interested in investment in the real sector (long term)?
For now- or at least this thread- I suggest we limit the investments that we look at to just web-enabled/digital investmests of low-medium risk.
UPDATE: Actually I think semmyk has a good point with the below. Since we've taken a look at rent.crow.dy, then some form of real estate investment is not off the cards. The main points just are probably that they must be web-enabled investments that use crowdsourcing.
I guess the focus is essentially crowdfunding investments that are not primarily Non-Agric It might be that the focus might end up being on crowdfunded-based digital investment (short term). There will be some real sector as well. So I don't think that real sectors are out. We should consider them the same way we research crowdfunded-based digital investment (short term).
Abeg oo my people. Na learn me sef dey learn for here. So nobody be experts yet. However, we are all smart and brilliant and by continuing to pool our time, perspectives and experiences, we will all learn even more.
Anyways, MummyIMadeIt mentioned a company that's particularly interesting in these times of the depreciatiating naira. Say, what do you folks say about us reviewing rise.ve.st next?
In fact maybe we should return to this cadence by picking a company to cross-examine every 1-2 weeks. We've done PayvestCarbon and Rent.crow.dy before, so let's move to other companies.
I also suggest that folks who frequent this thread like MummyIMadeIt, Pepchizy, benedictuyi, Acidosis, Alkalosis, taiwoliu, syras, PrincipledHuman etc can lead the review of separate companies during separate periods. What do you think folks?
In fact, I suggest we do it like this: let's make this a group effort. I suggest that we pick one company every 1-2 weeks and investigate, cross-examine and fact-find them for those two weeks. And since you've started looking into them, let's put Payvest on the spot first.
And the article backs up what you reported: Payvest does offer some almost incredible ROI. That's already a concern. But then the article goes on to say: Finally, Payvest prides itself on being the most secure provider of savings and investment opportunities in Port Harcourt and Nigeria. It keeps your money safe as all its projects are duly insured by AXA Mansard and Leadway Insurance.
So that's one thing to investigate. Let's reach out to AXA Mansard and Leadway and hear what they say.
Another thing is let's look into how healthy and prosperous are the operations of the parent company i.e Carbon (formerly known as Paylater).
If you and others agree with me, you can add more things to dig into.
Investment / Re: Crowdfunding Investment Platforms And Options (non Agritech Categories) by enigmatique(m): 6:44pm On Feb 01, 2021 
