In a statement to the ASX, Raiz Invest said it would position itself in Indonesia as an aspirational product to improve, through hands-on learning, financial literacy and financial inclusion, similar to Australia.
He said the addressable consumer class in Indonesia is around 55 million people and expects this figure to reach 110 million in 10 years.
Raiz Invest Managing Director George Lucas said he was very excited about the expansion in Indonesia.
“We believe that, just like in Australia, Raiz will be a game changer in the way people invest. Raiz Invest will be the innovative solution for everyone who wants to start investing, but has never really taken the first step,” said Mr. Lucas.
“As stated in last year’s prospectus, our growth strategy includes expansion into Southeast Asia and Raiz Indonesia is the start with other countries to follow.”
In September last year, Raiz Invest published a Facebook Chatbot part of a larger effort to engage millennial customers.
Raiz Invest has been announced as a nominee for four awards at this year’s Fintech Business Awards.
