As a product - its actually a great deal for customers when investing small amounts.
As a business, its however a different story. $1.25 monthly fee doesn't even cover basic operating costs on a per user basis. Australia's cost base in financial services is ridiculous - just look at the brokerage rates we pay here vs the US (even at insto level).
Raiz has to either become a serious investment product (I don't think thats going to happen) or find other ways to monetise the massive user base it has built - rewards isn't going to cut it on its own.
Acorns in the US recently raised $105m and did a deal with CNBC - one needs huge amounts of money when looking to monetise Millenials. It is a very long game and best understood by VC money.
I suspect that RZI couldn't raise money from VCs and hence listed as a last resort! Listed markets just don't offer the kind of capital which RZI needs. Add the ridiculous payout management got from the IPO and IMHO - they have made their money and the holders are left bearing all the risk!
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Last
37.0¢ |
Change
-0.005(1.33%) |
Mkt cap ! $35.32M |
Open | High | Low | Value | Volume |
37.5¢ | 38.0¢ | 37.0¢ | $11.06K | 29.46K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 44150 | 37.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
38.0¢ | 3497 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 44150 | 0.370 |
2 | 9359 | 0.365 |
4 | 11437 | 0.360 |
10 | 106151 | 0.350 |
1 | 1000 | 0.340 |
Price($) | Vol. | No. |
---|---|---|
0.380 | 3497 | 1 |
0.385 | 4850 | 2 |
0.390 | 162695 | 2 |
0.400 | 63091 | 7 |
0.410 | 1000 | 1 |
Last trade - 15.57pm 31/07/2024 (20 minute delay) ? |
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