State Street takes strategic stake in fintech platform Raiz

State Street Global Advisors, the asset management business of State Street, announced a strategic investment in Raiz Invest Limited, an Australian fintech platform that helps customers grow their wealth by helping them to save and invest. The parties have entered into an equity investment agreement as part of a strategic relationship pursuant to which State Street Global Advisors will acquire approximately 5 percent of Raiz’s share capital through a placement. “In addition, the strategic relationship will see State Street Global Advisors’ trusted brand and deep knowledge of markets come together with Raiz’s mobile-first platform, which helps Australian retail investors with micro-investments primarily in exchange-traded funds and model portfolios. Leveraging State Street Global Advisors’ international library of resources, insights and trends, Raiz customers will have access to a broader array of financial literacy content and investment education tools,” the company stated. “We are excited to expand our relationship with Raiz, a proven fintech leader in bringing important tools and educational resources to investors across the region. This strategic investment reinforces our strategy to join forces with wealth firms who share our commitment to help investors globally manage their investments and savings for retirement,” said Yie-Hsin Hung, President and CEO for State Street Global Advisors.