Latest news with #BrendanMalone
The Age
24-04-2025
- Business
- The Age
Raiz rides out market turmoil to log surge in funds under management
ASX-listed fintech micro-investment disrupter Raiz Invest has posted a blockbuster quarterly result, shaking off March's global market jitters to clock record-breaking funds under management, underpinned by a turbocharged pipeline of product innovation. While Raiz may run a fairly traditional fund, the way it attracts money is anything but. Its slick tech platform lets users round up everyday purchases to the nearest $1, $2 or $3 - with the spare change automatically funnelled into an investment account in their name. In its latest update, the company raked in a hefty $60 million in net inflows for the three months to March - up 67.9 per cent on the previous period to achieve its best effort since the heady days of mid-2022. Total funds under management are 23.1 per cent higher than a year ago and now sit at a record $1.65 billion. Company revenues also continued to rise with a 2.6 per cent quarter-on-quarter uptick to $6.1M, translating into a 14.1 per cent lift for the past 12 months. 'Our business model is again proving to be resilient through market cycles, and we are well positioned to continue our growth trajectory.' Raiz Invest managing director and chief executive officer Brendan Malone Adding to the good numbers, the micro-investment maestro reported a 6.9 per cent year-on-year jump in active customers to 324,968 and a 5.9 per cent bump in annualised revenue per user, which climbed to $75.94 each. Indeed, more than 60 per cent of customers continued to make recurring deposits throughout the quarter, helping drive the average account balance to $5078 – a 15.1 per cent lift from a year ago. Although the growth in active users marginally slowed in the quarter to 6973 - with the finger of blame pointing squarely at global market volatility - the positive trend has resumed and sat at 326,544 yesterday.
Sydney Morning Herald
24-04-2025
- Business
- Sydney Morning Herald
Raiz rides out market turmoil to log surge in funds under management
ASX-listed fintech micro-investment disrupter Raiz Invest has posted a blockbuster quarterly result, shaking off March's global market jitters to clock record-breaking funds under management, underpinned by a turbocharged pipeline of product innovation. While Raiz may run a fairly traditional fund, the way it attracts money is anything but. Its slick tech platform lets users round up everyday purchases to the nearest $1, $2 or $3 - with the spare change automatically funnelled into an investment account in their name. In its latest update, the company raked in a hefty $60 million in net inflows for the three months to March - up 67.9 per cent on the previous period to achieve its best effort since the heady days of mid-2022. Total funds under management are 23.1 per cent higher than a year ago and now sit at a record $1.65 billion. Company revenues also continued to rise with a 2.6 per cent quarter-on-quarter uptick to $6.1M, translating into a 14.1 per cent lift for the past 12 months. 'Our business model is again proving to be resilient through market cycles, and we are well positioned to continue our growth trajectory.' Raiz Invest managing director and chief executive officer Brendan Malone Adding to the good numbers, the micro-investment maestro reported a 6.9 per cent year-on-year jump in active customers to 324,968 and a 5.9 per cent bump in annualised revenue per user, which climbed to $75.94 each. Indeed, more than 60 per cent of customers continued to make recurring deposits throughout the quarter, helping drive the average account balance to $5078 – a 15.1 per cent lift from a year ago. Although the growth in active users marginally slowed in the quarter to 6973 - with the finger of blame pointing squarely at global market volatility - the positive trend has resumed and sat at 326,544 yesterday.
