Raiz Invest (ASX:RZI) - MD and Group CEO, George Lucas
MD and Group CEO, George Lucas
Source: Raiz Invest
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Raiz Invest (RZI) has reported gains across its key metrics, with growth continuing in Southeast Asian markets
  • Over the last year, the company has recorded a 73.2 per cent increase in active customers
  • In Malaysia, there has been a 18.9 per cent increase in active customers over the last three months, while in Indonesia there has been a 26.9 per cent increase
  • Total funds under management (FUM) have increased by 70.8 per cent over the full year to $1.03 billion
  • Shares were trading 1.14 per cent higher at $1.78

Raiz Invest (RZI) has reported gains across its key metrics with growth continuing in Southeast Asian markets.

Over the last year, the company has recorded a 73.2 per cent increase in customers to 594,992 at December 31, 2021.

In Malaysia, there has been an 18.9 per cent increase in active customers over the last three months, while in Indonesia there has been a 26.9 per cent increase.

Total funds under management (FUM) increased over the full year by 70.8 per cent to $1.03 billion.

Managing Director and Joint Group CEO George Lucas said COVID-19 made the market tougher.

“December witnessed a marked deterioration in business conditions with the new variant of the COVID virus proving extremely contagious,” he said.

“Despite this setback our FUM continued to increase and is now well over the $1 billion FUM target we set for end of calendar year. Over the past 12 months, FUM has grown an impressive 70.8 per cent.

“In Southeast Asia, both Indonesia and Malaysia continue solid growth in Active Customers. We reached our milestone for Indonesia of 200,000 Active Customers by calendar year end.

“In Malaysia, we nearly reached our target of 100,000 Active Customers, with 97,079 Active Customers at 31 December 2021.”

Shares were trading 1.78 per cent higher at $1.78 midday AEDT.

RZI by the numbers
More From The Market Herald

" iSynergy (ASX: IS3) enters acquisition agreement with POSTech

iSynergy (IS3) has entered into a share purchase agreement (SPA) for the proposed acquisition of POSTTech.
NEXION Group - COO, Kevin Read (left) and CEO, Paul Glass

" NEXION (ASX:NNG) sees 91pc bump in monthly recurring revenue

NEXION Group (ASX:NNG) reports a strong December quarter with total revenue up 50 per cent to…
Harris Technology (ASX:HT8) - CEO, Garrison Huang

" Harris Technology (ASX:HT8) Q4 revenue jumps 40pc

Harris Technology (ASX:HT8) announced a 40 per cent year-on-year increase in sales revenue for the December…

" OZ Minerals (ASX:OZL) posts record FY revenue of $2.1b

OZ Minerals (OZL) delivers on 2021 production and costs; record $2.1 billion revenue.