Monday, July 7, 2025
17.9 C
London
HomeFinTechRaiz Invest: Posts $2.9M loss despite increased customers and revenue

Raiz Invest: Posts $2.9M loss despite increased customers and revenue

Date:

Pair Sentenced to Jail for $15M Crypto Fraud Scheme

A Deep Dive into the Conviction of Cryptocurrency FraudstersHighlights:...

Trump Proposes Tariff Rates of Up to 70% as New Letters Are Sent Out

Exploring the Implications of Donald Trump's Proposed Tariffs on...

The Payments Association Urges Enhanced LGBTQIA+ Diversity in Payment Systems

Advocating for inclusivity in payments to drive innovation and...
  • Fintech company Raiz Invest (RZI) has released its half-year report, revealing it ended December with a total comprehensive loss of $2.9 million
  • Comparatively, the investment business ended 1H FY20 with a smaller loss of $2.56 million
  • The blowout has blamed on platform refinement, product development, customer acquisition and one-off administrative costs
  • The deeper loss also comes despite Raiz recording some positive increases in revenue, active customers and funds under management (FUM)
  • The fintech stock closed out 1H FY21 with $11.13 million in cash and equity after burning through $369,000 on operation activities
  • Shares in Raiz Invest have ended the day down 3.16 per cent at $1.84

Related stories

spot_img

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories