Raiz Invest, the micro investment platform formerly known as Acorns Grow Australia, has lodged its prospectus with the Australian Securities and Investments Commission (ASIC), looking to raise $15 million through an initial public offering (IPO). Priced at $1.80 a share with shares scheduled to begin trading on June 21, the IPO will value the company… Read more »
FirstStep wants to get millennials investing their virtual loose change but faces competition from Acorns
In the words of Benjamin Franklin, a small leak will sink a big ship. The 20c change from the $4 we hand over for a coffee every morning can add up over time but, thinking them useless and wanting to get rid of heavy coins, most of us routinely waste our change.
In some ways, the Acorns app is the smartphone equivalent of the piggy bank. But there’s an additional element. It allows people to round up their daily purchases and automatically invest their virtual spare change into a diversified portfolio of index funds.