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- Raiz Invest Limited (RZI) has announced an investment by Seven West Media (SWM) to accelerate its business growth
- Seven will take an investment of 6.6 per cent in Raiz via a $10 million placement at $1.6 per share
- Payment will be split between $2 million in cash and $8 million in advertising across a variety of Seven’s platforms
- The investment will allow the company to reach a wider audience and expand globally
- Raiz Invest shares are 6.6 per cent in the green at $1.7 and Seven West Media’s shares are also up 1.6 per cent to trade at 62 cents at 11:18 am AEDT
Media giant Seven West Media (SWM) has taken an investment stake in Raiz (RZI), in order to accelerate the growth of the financial services platform.
The company, which had recently announced its funds under management had hit its $1 billion milestone, will work with SWM to utilise its extensive media reach.
This will allow Raiz to advance significantly in the next couple of years in a way that would not be possible otherwise.
SWM will take an investment of 6.6 per cent in Raiz via a $10 million placement at $1.6 per share.
Payment will be split between $2 million in cash and $8 million in advertising across SWM’s broadcast and digital areas, which have a combined reach of more than 18 million Australians.
Raiz Joint Group CEO, Brendan Malone, says the investment will assist the company’s global expansion.
“We are excited to be working on new creative campaigns that can not only be used in Australia but in the Southeast Asian countries where we operate, determining a media strategy in conjunction with Seven to maximise our reach, and building brand stock that will not only accelerate growth in the next one to two years but put us in a good position to continue our growth trajectory beyond this,” he said.
SWM managing director and chief executive, James Warburton, says the investment will also be beneficial to Seven.
“Combining Raiz’s consumer offering, which has widespread appeal, with SWM’s scale and audience reach provides a significant opportunity to grow the business and is a strong fit with the strategy of our Seven West Ventures group,” he said.
Raiz Invest Limited shares are 6.6 per cent in the green at $1.7 at 11:18 am AEDT. Meanwhile, Seven West Media’s shares are also up 1.6 per cent to trade at 62 cents.
