Raiz Invest poised for continued growth following strong half-year result

Raiz Invest poised for continued growth following strong half-year result

Australia’s largest mobile-first financial services platform, Raiz Invest, has released its half-year financial results for the six months to 31 December 2021.

Features of the results include total normalised revenue for the platform up 85% to $8.7 million year on year (YOY), Global Active Customers up 73% to almost 600,000 YOY and Australian funds under management up 71% to $1.03 billion.

Raiz Invest CEO George Lucas said, “We are very pleased with our sustained strong growth throughout 1H 22 despite the lingering impacts of the Covid-19 pandemic.”

“Throughout the first half of this financial year, we have remained focused on boosting our performance across all of our key metrics in Australia, and customer growth in Indonesia and Malaysia.  We have achieved record results in the process.”

“A key highlight of the half-year was our announcement in November that we had surpassed our one-billion-dollar FUM target early off the back of strong growth.”

“In the same month, we announced Seven West Media’s strategic investment in Raiz. This investment not only combines our leading customer offering with SWM’s scale and reach, but also provides us with additional capital to further accelerate our growth in Australia.”

“Our growth in Indonesia and Malaysia continues and we remain confident that we will be able to repeat the success of the Australian business in these countries. We are also introducing new products in Southeast Asia to expand our customer base and increase revenue per customer in this region.”

Lucas also thanked all of Raiz’s shareholders and the thousands of Raiz customers that make Raiz an ongoing success.