Raiz Invest Limited (“Raiz” or “the Company”, formerly known as Acorns Grow Australia), Australia’s first mobile-led investing platform, today announced the lodgement of its prospectus for the Company’s public offering to raise over $15 million from investors.
The offering, which is fully underwritten, will provide current Raiz customers with priority access, while also allowing institutional and retail investors the opportunity to participate. Shares will be issued at $1.80, valuing the company at approximately $119 million. The offer is expected to close on 1 June 2018 with official listing targeted for 21 June 2018.
Raiz is a first of its kind Australian, mobile-led, financial services business offering customers an easy way to regularly invest either small or large amounts using its micro-investment platform available via the app or the web. Raiz’s model is centred on breaking down the barriers to investing, giving customer’s confidence in their finances and offering products driven by their feedback and needs. Its end-to-end technology platform, including registry, operations, administration, fund management and customer communication, allows Raiz to deliver a superior customer experience and build-out its product portfolio.
News & Media
From this page you can view press and media releases. Alternatively, you’re invited to contact us in person. Call us on 1300 954 678
23 Apr 2018
Sydney, Australia – April 23rd – Acorns Australia has rebranded to Raiz Invest, a move that follows the company’s announcement in February to divest from Acorns.
From today, all users will be prompted to update their Acorns Australia app, after which they will see the new Raiz Invest brand, logo and colour scheme. The website will also reflect the new name and branding.
Raiz Invest Managing Director, George Lucas, said: “Today marks another significant milestone in our company’s history with the name change from Acorns Grow Australia to Raiz Invest.
Acorns Australia, the micro-investing app, has reached a milestone of over a $100 million funds under management (FUM), highlighting the appetite among Australians for new ways to save and invest.
Since its launch in February 2016, Acorns Australia has steadily increased in popularity and now reaches approximately 1.25 per cent of the Australian population, with more than 300,000 users.
The boutique fund manager Instreet Investment has raised more than $1 billion since its inception following a solid June quarter this year for its own and third party structured products business.
Although these financial products have attracted less retail investor interest due to the falling number of independent financial advisors (IFAs) and a more prescriptive asset allocation model from financial planning dealer groups, there is stronger demand from wholesale/sophisticated investors, says Instreet Managing Director George Lucas.
Lucas says: “Wholesale investors still see the benefit of these products as a viable investment option to increase yields, gain exposure to alternative markets not readily available through existing managed investment products or to diversify and manage downside risks while maintaining upside exposure.
Instreet Investment has launched its latest product, the Instreet Link 74, which aims to provide investors with exposure to potential upside of Oil.
Boutique investment manager, Instreet Investment, today announced the appointment of Marcus Obermeder as sales director and James Poon as head of product development.
Instreet managing director George Lucas says the appointments are a strong signal to the markets that we are “passionate” about developing innovative investment strategies and enhancing awareness of structured investments.
A financial adviser and investment manager with more than nine years’ experience, Obermeder comes to Instreet from Citi where he provided tailored advice to clients with a particular focus on structured products and managed funds.
Instreet Investments Limited has entered into a joint venture with U.S. start-up Acorns Grow, Inc., to bring the company’s hugely successful savings and investment app to Australia.
Acorns is a free app for iPhone and Android smartphones that allows people to round up their daily purchases and automatically Invest the Change® into a diversified portfolio of index funds.
Australia is the first country outside North America to secure a partnership to co-develop and launch a local version of the app. It will go into beta testing in Q4 of this year and will be available for download in Q1 2016.
After nearly two years in development, Acorns launched in the US August 2014 by father and son founders, Jeff and Walter Cruttenden. Since launch, Acorns has grown to more than 750,000 members and opened hundreds of thousands investment accounts on mobile platforms.
“Acorns has always wanted to take the app to international markets and do so with a company that has strong local knowledge in the financial services sector,” said Acorns co-founder and CEO Jeff Cruttenden. “We were introduced to Instreet and quickly realized they shared our vision of solving the worldwide savings and investment problem, through simple technology.”
A critical Product Ruling decision by the Australian Taxation Office (ATO) has lifted a cloud of uncertainty hanging over Deferred Purchase Agreements (DPAs) – and provides clarity on the taxation treatment of the Instreet Masti DPA.
Deferred Purchase Agreements are a common and effective financial product used to issue structured products in the Australian market.
The boutique structured product provider, Instreet Investment, has acquired the Emerald Club and its flagship product, The Emerald Wrap, which offers an ethical platform for Responsible investing (RI).
Financial planners risk losing market share if they don’t quickly adopt video for their communication and marketing strategies, says Fiona Parker, General Manager, Wealth Know How.
“Video content will account for 69% of all consumer online traffic by 2017, according to a recent global Cisco study,” Ms Parker said.
- 1 of 5
- ››