Micro-investing numbers continue to balloon as more players enter the market

Cache have today released The Micro-Investing Report – Q1 Update, a quarterly review of the trends within the micro-investing market. The quarterly update shows the continued traction of micro-investment adoption with an increase of 272,000 accounts increasing the total amount to 1.49 million. This represents a 22% growth in the total number of accounts over the quarter which is annualized at 124%.

Founder of Cache Caleb Gibbins said of the quarterly update, “It is fantastic to see the explosive growth in this new market – enabling more people to invest more than ever before in products that are aligned to customer’s demographic or interests.”

“Not only are the existing providers growing so strongly, they are being accompanied by a range of new players seeking to target niche audiences and differentiated offerings.”

“We are experiencing the creation of a new category of financial product that we believe will form a core component of our financial lives.”

“What do you do when you’ve saved up $5k and want to invest for the first time? These products solve that problem.”

“Micro-investing has well and truly jumped from early-adopters to mass adoption. Today, more Australians invest through micro-investing products than on the ASX directly.”

“We see micro-investing as an activity, not constrained by the structure of the product used.”

Key Statistics found in the report include:

• 22% QoQ growth in account numbers
• 272K accounts added in the quarter ending 30 September 2021
• 2 new market participants – Blossom & Spriggy Invest
• 107% YoY growth in account numbers
• 770K accounts added in the 12 months prior to 30 September 2021
• 1.49M total micro-investing accounts in Australia

A full copy of the report can be downloaded from – www.cacheinvest.com.au/micro-investing-report-update-q1