Insights

The Raiz (ASX: RZI) share price is surging 9% higher today

The Raiz Invest Ltd (ASX: RZI) share price is flying more than 9% higher today, following a positive trading update from the company. At the time of writing the Raiz share price is trading for $1.75. More than 8% higher for the day, after hitting an intra-day high of $1.76 earlier. What did Raiz announce? Earlier
The post The Raiz (ASX: RZI) share price is surging 9% higher today appeared first on The Motley Fool Australia. –

wooden blocks with percentage signs being built into towers of increasing height

The Raiz Invest Ltd (ASX: RZI) share price is flying more than 9% higher today, following a positive trading update from the company.

At the time of writing the Raiz share price is trading for $1.75. More than 8% higher for the day, after hitting an intra-day high of $1.76 earlier.

What did Raiz announce?

Earlier this morning, Raiz provided the market with an update on its performance for March 2021.

In the update, Raiz provided an insight on the company’s Australia, Indonesian and Malaysian operations for the month.

Raiz noted that global active customers increased 3.5% for the month to a total of 419,552 active users. The company’s management highlighted that active customer numbers grew despite an increase in monthly maintenance fees. Raiz attributed the strength of the company’s brand and value-add operations to customer loyalty.

In addition, Raiz highlighted that funds under management (FUM) in Australia increased 4.4% for the month to $694.27 million. The company noted that net inflows did not slow despite challenging market conditions and fee structure changes.

Raiz also noted that $1 billion in FUM by the end of 2021 remains a realistic target. The company recently achieved $700 million on the 1st of April. Raiz also highlighted that Indonesian and Malaysian operations are exceeding expectations.

More on the share price

Raiz is a fintech company that operates a mobile-focused, micro-investing platform in Australia, Indonesia and Malaysia. The company’s platform enables users to micro-invest the remaining round-up of everyday purchases in exchange-traded funds (ETF). In addition, Raiz allows users to open a superannuation fund.

Depending on the user’s risk tolerance, the company’s mobile financial platform offers a range of different funds. Each fund allocates across a wide variety of financial products including Australian and international shares, fixed-interest investments and cash.

Raiz charges a flat monthly investment fee for each user which comprises more than 60% of the company’s revenue. Raiz recently increased its monthly maintenance fee from $2.50 to $3.50.

As a result, FUM and active customers are key metrics to the company’s ability to generate recurring revenue.

The Raiz share price has surged more than 86% since the start of 2021. Shares in the company more than doubled earlier in the year after hitting all-time highs of $2.20 in February.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The Raiz (ASX: RZI) share price is surging 9% higher today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!