Key competitor of RZI purchased for up to $80m. Seems that eToro are keen to get access to the Aussie Superannuation sector. Superhero had quoted in the media as putting themselves up to for sale since early 2023, so can only insinuate they were a willing seller given cashflow issues.
RZI has 50% more individual users (200k vs 300k) and a similar amount of funds under management. Spaceship was estimated to last have revenues of $10m vs RZI last stated of $21m. RZI superannuation product also continues to gather momentum.
RZI last mkt cap of $45m with over $10m in cash.
RZI seems like a more sustainable business (currently cashflow neutral), strong balance sheet and has a number of strategics on its register (Acorns US, Statestreet).
Go figure.
RZI Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
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