Spare change investor start-up expands into Thailand and Vietnam

Australian-based financial technology start-up Raiz Invest Ltd says it is ready to take its micro-investment platform into Thailand and Vietnam as it ramps up its push into Southeast Asia.

Allowing users to round-up everyday purchases and pool their spare change to invest in equities, bonds and other securities, Raiz Invest CEO George Lucas said the company’s mobile-led app will also be live in both Indonesia and Malaysia by the end of the year.

“Along with that strategy, Vietnam and Thailand will be our next targets for expansion,” Lucas told Nikkei Asian Review in an interview.

Since its launch in 2016, Raiz has attracted over 192,000 active monthly users with over AU$331 million ($231 million) in funds under management. It’s also picked up a number of awards along the way, including Australia’s “Investment Innovator of the Year” two years running in 2017 and 2018.

Focusing on young professionals, the Raiz app empowers users to invest larger sums of money as they get more comfortable with the app.

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Source: Spare change investor start-up expands into Thailand and Vietnam – Nikkei Asian Review