Join our daily newsletter At The Bell to receive exclusive market insights
- 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.
