Episode Details

Raiz Invest, the micro-investing app, has achieved a significant milestone by reporting its first profit in the first half of a financial year. With a statutory net profit after tax of $3.52 million and an underlying profit of $836,000, the company has demonstrated strong revenue growth and effective cost controls. Revenue increased by 23.9% to $14.4 million, driven by a larger user base and higher maintenance fees. The app, which rounds up everyday purchases and invests the spare change, saw active users grow by 5.7% to over 336,000 and funds under management increase by 28.5% to $2.1 billion. Looking ahead, Raiz plans to introduce new features and maintain its full-year forecast of $4.5 to $5.5 million in underlying EBITDA, with potential acquisitions in the pipeline.

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