Update from George Lucas:

We are pleased to share our Quarterly Activities Report that has now been released on the ASX and available on our Investor Centre.

Investment highlights

• Raiz achieved record Global Active Customers, and Funds Under Management (FUM) for the quarter
• Record revenue in Q4 FY21 with total normalised revenue for Raiz platform up 76.7% year on year (YoY) to $3.6 million
• Global Active Customers up 86.7% YoY to 456,927 
• Australian FUM up 76.3% YoY to $799.6 million
• Superannuation FUM up 53.0% YoY to $106.6 million
• Continued strong growth across Indonesia and Malaysia despite challenges caused by the Covid-19 pandemic
• The operational cashflow was $481,000 (positive) in Q4 FY21 and the Australian business’ operational cashflow was $1,402,000 (positive)
• Agreed to acquire Superestate, which will provide Raiz with the capability to offer residential property as an asset class both inside and outside of superannuation
• Raised $10.4 million via an Institutional Placement and Share Purchase Plan

Raiz Managing Director/Group CEO George Lucas said: “We are very pleased to have achieved a fourth consecutive quarter of record growth. With sustained strong performance across our key metrics and capital raised to pursue additional growth initiatives, we remain on track to have $1 billion in FUM by the end of the calendar year.

The whole business was operational cashflow positive for the quarter, to the tune of $481,000 and the Australian business was operational cashflow positive, generating $1,402,000.

Management globally continues to execute well, acquiring new customers, ensuring great customer service and user experience, listening to customer feedback, and then developing new products and features based on this feedback, which creates word of mouth to acquire new customers.

Meanwhile, our growth in Southeast Asia remains robust despite some of the challenges caused by the Covid-19 pandemic. We believe that there remains a significant opportunity to grow our product range in Malaysia and Indonesia and we have a number of strategic product initiatives, based on customer feedback, related to these countries underway.”