Raiz Invest's active user base edges higher again as global stocks hold steady

Fintech platform Raiz Invest (ASX: RZI) continues to slowly build its user base amid a more benign investment environment for global stocks.

The company’s monthly operations update this morning showed active users rose 2 per cent to 190,685, while funds under management (excluding super) were up seven per cent to $280.78m.

Shares in the company initially edged higher but were unchanged at 51.5 cents at 10:45am eastern time (6 May).

The company is still trying to gain traction with investors after listing in June last year at $1.80.

That followed a rebrand from the product’s initial name of Acorns, which was licensed from the US company of the same name.

The platform allows users to collate the change amounts on purchases, pool the funds and invest the difference in ETF vehicles which give exposure to domestic and global stocks.

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Source: Fintech: Raiz Invest’s active user base edges higher again as global stocks hold steady – Stockhead