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Date : 06/07/2021

Raiz Share Price Surge On ASX to a 3 Month High

Raiz Invest is a micro-investment platform that allows Australians to invest in ASX listed shares. They allow their customers to invest both – small and large amounts right from their mobile application. Raiz operates in Australia, Indonesia, and Malaysia currently. The popularity surrounding the stock is largely due to Raiz allowing everybody, irrespective of their budget, to get in and gain exposure to equity markets. At a time when bond yields are low, and many Australians are cash strapped due to the effects of the pandemic. Data and surveys show that a large population do not enter equity markets because they cannot afford the large brokerage fees and minimum investment amount. Raiz is solving this problem at scale. Other markets such as the US, India, China, and Europe already have platforms that allow users to invest small amounts and buy parts of a share.

Why is the Raiz Share Price Surging On ASX?

Today, Raiz shares closed at $1.73 a share, surging 7.12% on the back of some very positive news. Raiz Invest today announced its Australian, Indonesian, and Malaysian Active Customers and Australian Funds under Management (FUM) update for the month to 30 June 2021. In the announcement, Raiz revealed stellar numbers with Total FUMs from Australia up 75.3% compared to 12 months ago. The number of Active Customers has also gone up by 22% in Australia to over 272k. Globally, Raiz active customers have risen by 86.7% to over 456k.

Raiz Invest Managing Director/Global CEO George Lucas says: “Raiz finished the 2020-21 financial year on a high note. We remain well placed to hit our target of $1 billion in Funds under Management (FUM) by the end of calendar 2021. We are very pleased with the 30 June 2021 FUM of $800 million that is above budget. In the past 12 months, FUM has grown 76.3%.”

Raiz has opened up their platform to SMSFs recently and added new products such as Custom Portfolios. Raiz Invest looks to be on the right trajectory as far as growth goes and given the positive news coming out of the company, Raiz shares were upbeat. RZI shares have returned 172% in the past year and 83% in 2021.

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