Just follow the demographic macro trends in SEA. Rise of tech...

Just follow the demographic macro trends in SEA. Rise of tech savvy young millennials looking to get into investing in countries where there are still large barriers to entry for new investors with low capital. Raiz breaks down those barriers and provides a convenient and easy to use investment tool with comparatively safe portfolios. Competition in Australia is pretty high and the investment space is pretty saturated with plenty of financial players and yet more coming, hence pursuing customer acquisition in Australia is probably going to be very expensive with limited success possible. The current expansion strategy into SEA can easily pay off in a few years if Raiz can successfully be a leader in their category. Customer growth has been steady in SEA, hopefully it can pick up back to the rates achieved last year. Raiz has the potential to be a mid cap one day if it can successfully position itself as the go to app for new investors with limited capital and limited experience with investing. Will be quite interesting to see what price acorns lists at the end of the year, acorns and raiz provides almost the same services, so if Acorns does receive that expected high valuation IPO, well it won’t take the market long to rerate Raiz as well.