Raiz exiting Malaysia

Raiz to close its Malaysian business operated as a joint venture with Jewel Digital Venture Sdn Bhd

Raiz Invest Limited (ASX:RZI) Announcement

Exit from Malaysian Market

  • Raiz to close its Malaysian business operated as a joint venture with Jewel Digital Venture Sdn Bhd

  • Decision made following completion of a strategic review

  • Malaysian entity has sufficient capital to fund closure expenses

  • JDV committed additional RM3m for structured wind-down process

Closure Process

  • Comprehensive and orderly closure to be implemented in phases

  • Focus on secure and efficient handling of client assets

Financial Impact

  • Exit will not impact P&L of Raiz Australian operations

  • Malaysian operations to be classified as discontinued operations in financial report

Strategic Focus

  • Closure enables Raiz to focus on strengthening and expanding Australian business

  • Continued product innovation and marketing campaign expected to drive growth

  • Aim to deliver strong economic performance for shareholders

Corporate Information

  • Announcement approved and authorised by Board of Directors

  • Brendan Malone serves as Managing Director and CEO

  • Katie Mackenzie handles Investor Relations

About Raiz Invest Limited

  • Multi-award-winning micro-investing and fintech platform

  • Pioneered 'Round-Up' concept in Australia

  • Offers 9 diverse portfolios with investments in ASX stocks, ETFs, Bitcoin, and Raiz Residential Property Fund

  • Minimum investment of $5

  • Product range includes Raiz Kids and Raiz Invest Super

  • Launched customisable Plus portfolio for experienced investors

  • Ranked as the number one investment app in Australia

ASX Code: RZI