Raiz announces its March 2019 updates, AUM crosses $300 million.

  • Apr 08, 2019 AEST
  • Team Kalkine
Raiz announces its March 2019 updates, AUM crosses $300 million.

Australia’s largest, mobile-first financial services platform company, Raiz Invest Limited (ASX:RZI) today updated the exchange about its Active customers and Funds Under Management monthly status.

Since its launch in 2016, the company has witnessed robust growth, with the app witnessing over a million downloads. As at 31 March 2019, the company has over 186,000 active monthly customers. The app has over 660,000 signups. The company reported over $300 million funds under management.

The company was awarded Investment Platform Innovator of the year 2019 FinTech Business Awards.

The company witnessed growth across all the metrics in the month of March 2019 as compared to the numbers reported in the month of February.

The total customer sign-ups grew by 2.3 percent coming in at 660,101 as on 31 March 2019 vs. 645,567 registered as on 28 February 2019. The total investment accounts were reported at 302,756 as on 31 March 3019 as against 295,804 reported as on 28 February 2019, and the investment accounts grew a tad better than customer sign-ups registering a growth of 2.4 percent month-on-month.

The company saw a 2 percent bump up in its Active Customers figures. As on 31 March 2019, the active customers count stood at 186,884 as against 183,245 as on 28 February 2019.

As far as the funds under management is concerned, the company saw the Retail FUM growing at 3.2 percent reporting in at A$262.46 million as on 31 March 2019 as against A$254.25 million as on 28 February 2019.

The Superannuation FUM witnessed a robust growth of 7.4 percent with the total AUM under this category coming in at A$37.82 million as against A$35.21 million as on 28 February 2019.

The total AUM was reported at $300.28 million as on 31 March 2019 as against $289.46 reported as on 28 February 2019, witnessing a growth of about 3.7 percent month-on-month.

George Lucas, the CEO of the company, said that the March numbers were good for Raiz aided by consistent engagement and growth in Australia. He also acknowledged the successful launch of the Indonesian business.

On 7 March 2019, the company declared the exchange about the launch of Raiz Invest in Indonesia and with that it makes its entry into Southeast Asia. The company stated in the press release that it would be positioning itself in the Indonesian market on the same lines as it did in the Aussie market. This expansion was in line with the company’s strategy as outlined in the prospectus last year. The total addressable consumer class in Indonesia is around 55 million people, and Raiz expects this number to double to 110 million in a decade.

The shares have been in a downtrend in the past six months, with a negative return of 40.56 percent. However, in the past three months, it has delivered a positive return of 11.46 percent and a negative 20.15 percent in the last month.

RZI has a current market cap of ~ AUD 35.43 million with ~ 66.23 million outstanding shares. On April 8th, 2019, the RZI stock price is trading at AUD 0.540 on ASX up by 0.935% (As at 1:30 PM AEST).


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