Raiz reports drop in FUM
Micro-invest platform provider, Raiz Invest, has reported a 1.2 per cent drop in funds under management (FUM) during December due to falls in global equity markets.
Despite the drop, the firm reported investment fund inflows totalling approximately $6 million, and achieved two months of positive cash flow and growth in normalised revenue.
Raiz’s chief executive, George Lucas, said that key strategic pillars of the company included:
- Growing its customer base;
- FUM and revenue per customer growth by offering a range of products and services;
- Southeast Asian expansion; and
- Strengthening market position through delivery of platform improvements.
“We remain focused on our growth strategy, for which the company remains well funded,” he said.
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