Raiz Invest lifted its funds under management by 20.2% in the September quarter to $2.4 billion, reporting $69 million of net customer inflows and 354,202 active customers at 30 September.
The company said inflows in the quarter were up 27.8% on the previous three months, while its active customer base increased 5.6% year-on-year, signalling steadily rising engagement with its digital investment platform.
Child-focused portfolios continued to gain traction: Raiz Kids accounts climbed almost 25% over the past year to 73,957, and the money invested in those accounts jumped 42.7% to $132.3 million, reflecting stronger parent and grandparent participation.
Revenue metrics also improved. Annualised revenue per user rose 2.9% to $86.69, and the average Raiz account balance increased 13.8% over the year to $6,776, suggesting customers are building larger portfolios rather than only using small round-ups.
Product adoption broadened beyond entry-level services. The company’s Lite product passed more than 10,000 portfolios, up 17.7% in three months, its Plus portfolios held $441.3 million, and Raiz’s superannuation offering now manages more than $500 million. Jars, the goal-based investing feature, recorded strong growth to 46,729 accounts, a 67.2% annual rise.
"The underlying Raiz business remains solid, with a significant retail customer base skewing towards the younger investor demographic," Raiz Invest chief executive officer Craig Keary
Raiz said the September results come after an overhaul launched in August designed to attract more customers, tighten operations and expand its wealth management capabilities. Management plans to use artificial intelligence for customer engagement, refresh the company’s market positioning and assess potential strategic acquisitions.
The transformation program incurred one-off costs of $500,000, while cash on hand at the end of September stood at $15 million, up 3.4% from the end of June. The company also disclosed it had uncovered historical tax compliance issues and has begun an external review, with ongoing discussions with regulators.
On the product roadmap, Raiz is working to give customers access to US-listed shares and exchange-traded funds, with direct ASX share trading planned to follow, a move that would broaden the platform’s investment options for both new and more experienced users.
The numbers point to a platform that is converting smaller, first-time stakes into larger account balances and a wider set of offerings, leaving Raiz with a substantial retail base to support its next phase of change while it manages legacy compliance questions and executes its expansion plans.
