Insights

Why the Douugh (ASX:DOU) share price will be in the spotlight

The Douugh Ltd (ASX: DOU) share price will be on watch following the launch of another product feature. Here’s what the company released.
The post Why the Douugh (ASX:DOU) share price will be in the spotlight appeared first on The Motley Fool Australia. –

happy teenager using iPhone

The Douugh Ltd (ASX: DOU) share price will be in the spotlight during morning trade. This comes after the fintech company launched another feature on its wellness app.

At yesterday’s market close, the Douugh shares ended the day at 16.5 cents.

Let’s take a closer look at what the company announced.

Douugh enhances app offering

Douugh shares will be on the radar today after the company launched another feature to reduce customer wait times.

According to its release, Douugh advised it has rolled out an ‘instant bank account’ funding feature in partnership with Stripe.

Founded in 2010, Stripe is an Irish-American financial service and Software-as-a-Service (SaaS) company. The group specialises in online payment processing platforms, allowing businesses to send and receive payments online.

The new feature enables customers to connect their pre-existing bank Mastercard and Visa debit cards to the Douugh platform. In turn, customers can access and top up their Douugh bank account instantly. This is opposed to waiting for 3 days for the funds to settle. To access this feature, however, Douugh is charging a 3% fee to customers for the convivence.

It’s no secret the company is making strides to encourage customers to pay their salary into their Douugh bank account. It believes by making continuous improvements to its app, customers will make the switch, unlocking the full benefits.

Management commentary

Stripe head of Americas, revenue and growth, Jeanne DeWitt Grosser commented:

We are delighted to be partnering with Douugh, helping them fulfill their mission to foster financial wellness. This partnership allows Douugh customers to more quickly begin their journey of better managing and growing their finances by cutting unnecessary wait times.

Douugh founder and CEO, Andy Taylor went on to add:

This initiative, alongside the recent release of instant push provisioning of the virtual Douugh Mastercard debit card straight into Apple Wallet, ensures we can minimise the time it takes a customer to become setup on the platform and extract the benefits.

About the Douugh share price

Since its listing in early October, the Douugh share price has exploded to almost 900% higher. The company’s shares reached a high of 49 cents in November, before falling back down after some profit-taking.

On valuation grounds, Douugh commands a market capitalisation of around $60 million, with 367 million shares on issue.

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 Aaron Teboneras 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 Why the Douugh (ASX:DOU) share price will be in the spotlight 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!