State Street Global Advisor has invested in Raiz Invest Limited, an Australian fintech platform that assists users in increasing their wealth through saving and investing.
The deal’s total value was not made public. As part of a strategic engagement, the parties have entered into an equity investment agreement (the “Initial Share Purchase”) wherein State Street Global Advisors will put a bid to purchase around 5% of Raiz’s share capital.
Raiz is a fintech platform and microinvesting service that assists all Australians in building wealth. It is led by CEO Brendan Malone.
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The business opened doors for first-time investors by introducing the “Round-Up” concept, which involves rounding regular purchases to the nearest dollar and investing the difference into a Raiz Invest account. The concept was initially introduced in Australia.
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Users of its platform can invest as little as $5 in up to 75 of the most well-known stocks on the ASX, ETFs, Bitcoin, and the Raiz Residential Property Fund, among their nine diversified portfolio options.
Raiz offers additional services to help you manage your finances (My Finance), save and invest for your children (Raiz Kids), receive a cash reward for your online purchases (Raiz Rewards), and invest in superannuation (Raiz Super). Due to Raiz’s innovation in microinvesting, a new class of investors has emerged in Australia, Indonesia, and Malaysia.
About Raiz
Raiz Invest, a first Australian micro-investing website, lets you invest your spare change from regular shopping. Its micro-investment platform on the Raiz app or website lets clients routinely invest small or big amounts in or outside superannuation. Choose from six diversified Raiz portfolios created with Nobel Prize-winning economist Harry Markowitz.
