Raiz Invest Limited announced a new strategic relationship with State Street Global Advisors, including a $2 million share placement at $0.41 per share and a Share Purchase Plan to raise up to an additional $2 million.
The partnership aims to enhance Raiz's financial literacy content and investment education tools, with potential for expanding State Street Global Advisors' ETFs on the Raiz platform.
Funds raised will be used for strategic opportunities, including developing a bespoke AI language model, product innovation, and potential mergers and acquisitions.
The collaboration leverages State Street Global Advisors' global brand and market knowledge to accelerate Raiz's customer acquisition and funds under management growth in Australia.
ASX Code : RZI