Raiz Invest Ltd. (AU:RZI) has released an update.
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Raiz Invest Ltd has reported a strong financial year with a 19% increase in Australian revenue, reaching $21m and a notable shift from a $2.4m EBITDA loss to a positive $1.3m EBITDA. The company has seen significant customer and funds under management growth, and is focusing on product innovation and a new strategic partnership with State Street Global Advisors. Despite ongoing operations in Southeast Asia, Raiz has exited its Indonesian business and is gearing up to finalize other Southeast Asian divestments in the following fiscal year.
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