Raiz's fall due to lack of lure in micro-investing?

Raiz Malaysia's closure after four years is likely due to the limited appeal of micro-investing in Malaysia's developing economy.
Areca Capital's CEO, Danny Wong says investments require detailed understanding and informed decisions, which are less prevalent among Malaysian investors.
Additionally, Malacca Securities research head, Loui Low, cites high competition and inflation as factors that hinder micro-investing.
He says there are between five and eight micro-investing firms in operations now.
Raiz Malaysia, launched in 2020 as a joint venture between Australia’s Raiz Invest and PNB was the first to offer micro-investment to the Malaysian public.
Raiz allowed users to invest spare change, at a minimum of RM5, into unit trusts via its app.
Raiz Invest announced plans to close Raiz Malaysia last Friday, without giving a date for withdrawal.
Raiz Malaysia and PNB have yet to respond to queries from Business Times.
Read more: shorturl.at/GoQrW
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