Transcription of The Stock Network Interview with Raiz Invest (ASX:RZI) Managing Director and CEO, Brendan Malone
Lel Smits: Raiz Invest is a multi-award winning investing platform helping all Australians create wealth. Raiz pioneered the roundup concept in Australia where everyday purchases are rounded up to the next dollar with the difference invested into a Raiz Invest account inside and outside of superannuation. Joining me to discuss more ahead of appearing at Stocks on Track is Raiz Invest’s Managing Director and CEO, Brendan Malone. Brendan, welcome to the Stock Network.
Brendan Malone: Great to be here, thanks for having me.
Lel Smits: Now, can you firstly tell us exactly how your first of its kind Australian micro-investing platform helps Aussies begin their investment journey?
Brendan Malone: Look, it’s very easy. It’s a multi-award winning fintech platform that breaks down the barriers to investing. What we’re trying to do here is to both not only financially educate, but in the palm of the hands through a mobile first application, allow people to have access to the financial markets. And for as little as $5, that’s exactly what Raiz does.
Lel Smits: And what type of digital investment products does your platform offer? Also, do you think we could possibly see others in the future?
Brendan Malone: Look, good question. I mean, we started out sort of nine years ago now with some very, what we call standard portfolios. So five different portfolios, conservative to aggressive, with seven ETFs all quoted on the ASX.
Since then, however, we’ve added another four portfolios, which is what we call our sort of plus models, where at the end of it, the plus model allows you to create your own portfolio up to 150 assets, including ASX listed stocks, quoted ETFs, Bitcoin and our own property fund. And there is plenty more coming down the pipeline for our investors.
Lel Smits: Excellent, now, Raiz was launched in 2016. The company then listed on the ASX in 2018. What growth have you seen in your customer count and also other key performance metrics over these years?
Brendan Malone: Good question, we’ve seen some phenomenal growth, especially at the start. But just to put it into perspective now, we have over 325,000 daily active users or monthly active users, but we also now have over $1.7 billion of funds under management. So breaking down those barriers, small amounts consistently over time is exactly what we’re achieving here.
But if I look at some more recent data, things like our plus portfolio increased 48% year on year, our superannuation offering increased 25% over the last 12 months. So things are heading in the right directions and things are constantly growing as we continue to innovate and engage our members.
Lel Smits: Excellent, certainly some very big numbers there. Not hard to see why you are dominant in Australia and look forward to hearing more at the Stocks on Track conference.
Brendan Malone: Great, looking forward to being there, thank you.
Ends