Cowrywise vs. Risevest: Which Investment Platform is Right for You?
- Simon Zaku
- Mar 19
- 3 min read
In the ever-evolving fintech space, Nigerians have multiple options for saving and investing their money. Two platforms that have gained significant traction are Cowrywise and Risevest.
While both offer investment opportunities, they cater to different financial goals and risk appetites.
If you're trying to decide which one suits you best, this in-depth comparison will help you make an informed choice.
Overview of Cowrywise and Risevest
What is Cowrywise?

Cowrywise is a savings and investment platform that helps users automate their savings and grow their wealth through diversified investment plans. Founded in 2017, it offers:
Automated savings plans
Mutual fund investments
Fixed-income options
Halal investment plans
Emergency and goal-based savings
What is Risevest?

Risevest is an investment platform that provides access to dollar-denominated investments, helping users protect their wealth from naira depreciation.
The platform offers:
Stock investments in US companies
Real estate investments
Fixed-income asset investments
Portfolio-based investment plans
Key Differences Between Cowrywise and Risevest
1. Investment Options
Cowrywise focuses on mutual funds, fixed-income investments, and savings automation. It partners with fund managers like ARM and Meristem to offer diversified portfolios.
Risevest provides direct access to US stocks, real estate, and fixed-income assets, making it ideal for those looking to hedge against currency devaluation.
2. Minimum Investment Amount
Cowrywise allows users to start with as low as ₦100 for savings and ₦1,000 for investments.
Risevest requires a minimum of $10 (approximately ₦15,000-₦17,000, depending on exchange rates) for investment plans.
3. Savings vs. Investment Focus
Cowrywise is primarily savings-focused, making it a great option for those looking to build disciplined savings habits.
Risevest is purely an investment-focused platform, designed for wealth growth rather than regular savings.
4. Currency Support
Cowrywise operates in Naira (₦) and invests in local mutual funds.
Risevest operates in US Dollars ($), giving investors international exposure.
5. Interest Rates & Returns
Cowrywise returns vary based on the mutual fund selected but typically range between 7% to 20% per annum.
Risevest offers higher potential returns:
Stocks: 10-25% annual returns (subject to market fluctuations)
Real Estate: 8-12% annual returns
Fixed Income: 5-10% annual returns
6. Accessibility & Withdrawals
Cowrywise savings can be withdrawn at any time, but some plans have a lock period for better returns.
Risevest investments take longer to process withdrawals (usually 3-5 working days) since they involve foreign assets.
7. Fees & Charges
Cowrywise: No direct fees for savings, but fund managers charge small fees on investments.
Risevest: Charges a 1.5% annual management fee on stock investments and similar fees on other asset classes.
8. Security & Regulation
Cowrywise is registered with the SEC (Securities and Exchange Commission) Nigeria, ensuring regulatory oversight.
Risevest is not directly SEC-registered in Nigeria but partners with international investment firms for compliance and fund security.
Pros and Cons of Cowrywise vs. Risevest
Cowrywise Pros
Ideal for savings and disciplined investment habits
Low minimum entry barrier (as low as ₦100)
Automated savings with flexible withdrawal options
Offers local mutual funds and halal investment options
Regulated by SEC Nigeria
Cowrywise Cons
Limited investment options compared to Risevest
Returns are tied to the Nigerian economy and naira volatility
Risevest Pros
Provides exposure to US dollar-denominated assets, protecting against naira devaluation
High return potential, especially in stock investments
Diversified investment plans (stocks, real estate, and fixed income)
Risevest Cons
Higher minimum investment amount ($10)
Longer withdrawal processing times
Not directly SEC-regulated in Nigeria
Who Should Use Cowrywise?
Cowrywise is best for you if:
You want to develop a savings culture and need automation tools.
You prefer low-risk, fixed-income investments.
You want quick access to your funds without long withdrawal delays.
You are new to investing and prefer local options.
Who Should Use Risevest?
Risevest is ideal for you if:
You want to invest in global assets and hedge against naira depreciation.
You are comfortable with a higher risk-reward investment structure.
You have a longer investment horizon and don't mind waiting for withdrawals.
You want exposure to US stocks, real estate, and fixed income.
Final Verdict: Which is Better?
Both platforms have their strengths.
If savings and local investments are your priority, Cowrywise is the better option. If you want to invest in international markets and protect your money from naira fluctuations, then Risevest is the smarter choice.
Ultimately, your decision depends on your financial goals. If possible, you can even use both platforms to balance local savings and global investments.
Which Platform Do You Prefer?
Do you use Cowrywise or Risevest?
Share your experience in the comments!
Simon Taki Zaku,
Founder, CEO, IbiFoundry.com.ng
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