View our Blog
Felix Gold
Far East Gold
Far East Gold
Wellnex Limited
Propell Holdings Ltd
Prescient Theraputics
Site
TRIBE
MDF Global Limited Q&A
MDF Global Limited Q&A

Microinvestment platform Raiz grows customer base by 83.7%

For millennials getting started on their investment journeys, microinvestment tools are a popular way to improve financial literacy.
For millennials getting started on their investment journeys, microinvestment tools are a popular way to improve financial literacy. Raiz Invest Limited (ASX: RZI) is Australia’s largest, mobile-first financial services platform designed to boost investing and savings in and outside of superannuation, via the Raiz app or its website.  
“It’s the modern day equivalent of the piggy bank,” said Raiz CEO, Brendan Malone.
  When Raiz launched in 2016, the concept of saving and investing virtual loose change had instant appeal with the Australian consumer.  Today, two-thirds of Raiz customers have started their investment journey with the platform.  
“The underlying benefit is that we provide you with a portfolio for investment made up of ASX-quoted ETFs or Bitcoin,” said Brendan.
  Today, Raiz has 343 000 active customers and manages $605 million in investments and superannuation.  “The global active customers have grown 83.7% over the last 12 months,” said Brendan. Driven by customer growth, user fees, netting and advertising, Raiz reported a growth in revenue of 19.6% in the first half of 2021. “We’re focusing on growth strategies at all costs,” said Brendan. In its Australian business, Raiz’s growth strategy is to continue to build product awareness, customer base and revenue through product and service development. Raiz is also expanding through Asia. It currently has 51 000 and 90 000 active users in Malaysia and Indonesia respectively. Raiz is also preparing to expand into Thailand and Vietnam.  These Asian countries provide excellent opportunities due to large populations in emerging economies with a strong interest in financial education.  Two-thirds of Raiz customers have started their investment journey with the platform.  “That goes a long way to say one of our key goals is financial education, financial literacy and financial awareness and that’s what the app is delivering,” said Brendan.  
“We continue to listen to our engaged customer base with a strong pipeline of new products and features and we believe there’s a continued market opportunity for more expansion to come,” he concluded. 
  Brendan Malone recently joined us for our fortnightly webcast ‘The Insider: Meet the CEOs’. This article summarises some of the information he shared with us during the session. You can watch a full recording below, or you can click here to book into our next session. ‘The Insider’ is a great way to hear directly from the CEOs of fast growing Australian businesses. You will get valuable insights to their industries and companies future prospects. The Insider: Meet the CEOs – Event Details: Date: Wednesday, 14th April Time: 12pm AEST Format: Online, 2 x 15 minute presentations This is a free event. Click here to book your spot. Reach does not assume responsibility for the accuracy or completeness of any information provided, and the views expressed are not reflective of Reach Markets position. Any advice contained within this presentation is general advice and does not consider your personal circumstance, you should consider whether it’s appropriate for you.  The information we are giving you is for educational purposes only. “Investing is about understanding your risk” and every time you invest in the share market there is a risk of loss. Past performance is not a reliable indicator of future performance. Reach Markets have been engaged by TZL to help manage their investor communications.  

This Week’s News

News

31st May 2024

Top geo backed by leading resources funds believes he has discovered a potential new gold-copper district

News

8th May 2024

BHP Xplor winner coming to the ASX

News

4th May 2024

AI Industrial Revolution: Aussie company unlocking AI for multinationals

General Advice Warning

Any advice provided by Reach Markets including on its website and by its representatives is general advice only and does not consider your objectives, financial situation or needs, and you should consider whether it is appropriate for you. This might mean that you need to seek personal advice from a representative authorised to provide personal advice. If you are thinking about acquiring a financial product, you should consider our Financial Services Guide (FSG)

including the Privacy Statement and any relevant Product Disclosure Statement or Prospectus (if one is available) to understand the features, risks and returns associated with the investment.

Please click here to read our full warning.

Close
Search

Hit enter to search or ESC to close

cookie By using this website, you agree to our cookie policy. Close