Raiz successfully raises over $6 million via institutional placement
Henslow is pleased to have supported Raiz (ASX:RZI) in securing $6.02m via an oversubscribed private placement for further domestic growth and Asian market expansion.
Raiz is Australia’s largest, mobile-first financial services platform designed to boost investing and savings, in and outside of superannuation. The service which first launched to the Australian market in 2016 with its offerings of micro-investing and round-ups, now offers a suite of mobile-led products and services to the domestic and Asian market.
Growth in scale and offering.
In 2019 Raiz has seen growth in all customer categories and funds under management (FUM), with the company’s FUM now exceeding $410 million. Alongside market growth, Raiz is consistently developing its portfolio, offering users access to a range of core products and services including Raiz Super, Raiz Rewards, Raiz Kids and My Finances.
Strong consumer adoption.
Since its launch in February 2016, Raiz has experienced strong adoption with +760k customer sign-ups, +207k active paying customers, and +1.1m downloads. Raiz removes the barriers which have previously hindered people from traditional investing.
Commenting on recent growth and Raiz’s roadmap, CEO George Lucas says:
“Our continued growth demonstrates the strong customer loyalty enjoyed by Raiz across all products in Australia, providing a strong base for the launch of new financial products, further enhancements of the app, and providing a roadmap for our expansion into Southeast Asia.”
Raiz is well placed to continue to deliver strong growth by capitalising on its well established platform with multiple and diverse revenue streams across savings, investing, superannuation, spending, partnerships and advertising.
To discuss this transaction and how the Henslow team can assist your business, please contact Justin Lewis (email@example.com).