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Raiz (ASX:RZI) share price sinks after half-year result



Fintech RAIZ Invest Ltd (ASX: RZI) has grown its active customer base by 54% in the half-year ending 31 December.

The mobile financial services provider reported $5.2 million in revenue. This was a 17% boost compared to the same period in 2019. 

It also reduced its net loss by 33%, to be $655,000 down for the half-year.

The company also grew its Australian funds under management (FUM) to $605.6 million, which was a 33.5% increase.

Raiz allows its users to round up everyday purchases and put the cents towards an investment portfolio. The micro-investing platform now has 343,573 active users.

Comments from Raiz management

Raiz chief executive George Lucas said the boost in FUM gave him confidence about hitting the target of $1…

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