Raiz Invest Limited (ASX: RZI), an Australian fintech platform that helps customers grow their wealth by helping them save and invest, received an investment from State Street Global Advisor.
The amount of the deal was not disclosed.
The parties have entered into an equity investment agreement (the “Initial Share Purchase”) as part of a strategic relationship pursuant to which State Street Global Advisors will acquire approximately 5 percent of Raiz’s share capital through a placement.
Led by CEO Brendan Malone, Raiz is a micro-investing and fintech platform to help all Australians create wealth. The company pioneered the “Round-Up” concept in Australia – where everyday purchases are rounded-up to the next dollar and the difference is invested into a Raiz Invest account – opening opportunities for first-time investors.
With 9 diverse portfolios to choose from, users of its platform can invest in up to 75 of the most recognised stocks on the ASX, ETFs, Bitcoin, and the Raiz Residential Property Fund, from as little as $5.
FinSMES
26/08/2024