Raiz

Raiz Invest Limited, previously known as Acorns, is an Australian financial technology company operating in Australia, Indonesia, and Malaysia. It is listed on the Australian Securities Exchange (ASX) and allows Australians to micro-invest their spare change from everyday purchases into exchange-traded funds.

As of October 2021, Raiz has 419,552 monthly active users and manages $694.27 million in funds. In the fiscal year 2020, the company earned $10.3 million in revenue. Brendan Malone serves as the Managing Director and CEO.

Since its launch in February 2016, the average user’s investment portfolio has grown by 11% annually. Most users (70%) are between 18 and 35 years old, and over 80% invest at least once a month. The minimum amount to open an account is $5.

Superannuation scheme
Raiz launched its superannuation product, Raiz Invest super, on July 16, 2018, which currently manages $69.7 million.

International expansion
Raiz is expanding in Indonesia, with 112,000 customers signed up and plans to develop new products. Monthly fees have been introduced in Indonesia, and Malaysia has 40,000 customers.

Awards
Raiz has been recognized as Australia's Investment Innovator of the Year at the FinTech Business Awards in 2017, 2018, and 2019.

References

Other websites
 Official website

Category:Companies of Australia