Sydney, November 3, 2023 - Raiz Invest Limited (ASX: RZI), a leading name in the fintech and micro-investing space, has just released its key metrics for October 2023, showcasing steady growth and an expanding global footprint.
Raiz reported significant growth across various metrics in October 2023. The company, renowned for its innovative approach to micro-investing, has seen a steady increase in its active customer base and Funds Under Management (FUM). Specifically, the global FUM reached $1.147 billion, despite minor fluctuations in monthly movements.
The Australian market continues to be a stronghold for Raiz, contributing a substantial portion of the total FUM.
Innovative Investment Platform
Raiz's success can be attributed to its unique investment model. The platform allows users to invest the 'spare change' from daily transactions into diversified portfolios, including low-cost ETFs, Bitcoin, Australian residential property, and ASX-listed equities. This approach, particularly in Australia, has been influential in boosting savings inside and outside of superannuation, the country's compulsory pension system.
Since its inception in 2016, Raiz has achieved impressive growth, amassing over 3.53 million sign-ups and more than 677,000 active monthly customers as of October 2023.