Raiz Malaysia Sendirian Berhad, a joint venture company between Raiz Invest Australia Limited and Permodalan Nasional Berhad will allow users to link their bank cards in partnership with Visa to make micro-investments.
With Raiz’s auto-round-ups feature, cardholders can now save their spare change from everyday purchases and make savings in the background.
Raiz Malaysia’s Chief Executive, Aidi Izham said: “We are excited about the opportunities and growth we have had through our existing relationships with Maybank and PNB. This new partnership with Visa will allow more Malaysians to access all features of the Raiz app to improve their financial well-being”.
The application is Australia’s largest mobile-first financial services platform, developed the first micro-investment app in the Southeast Asian region that allows people to save and invest their spare change from everyday purchases automatically. The company began its operation in Malaysia in the middle of 2020 and has already more than 100,000 active users.
Through this partnership with Visa, the company is looking to boost its growth in the Malaysian market. Raiz also has operations in Indonesia and is now looking to expand into Thailand.
