Seven West Media invests $10m in fintech Raiz

November 30, 2021 10:20

Seven West Media (SWM) has made an investment in fintech company Raiz, previously known as Acorn.

SWM has bought $10 million worth of shares, accounting for a 6.6% stake in Raiz, which is a fintech company that allows for micro-investing in the stock market through its different portfolios, as well as having a “spare change” feature that rounds up purchases to then be invested in shares. The $10 million will be split between $2 million in cash and the equivalent of $8 million in advertising across Seven’s broadcast television, publishing and digital media assets.

Raiz’s logo

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Anna Macdonald

Anna Macdonald was a Mumbrella journalist, covering news, creative, ad standards and campaigns. She left Mumbrella in April 2022.

Topics

Alan Stuart James Warburton Raiz Seven West Media SWM

2 COMMENTS

Helen 30 Nov 21

Probably worth noting that Seven hasn’t spent $10 million in cash in this investment, the deal is split between $2 million in cash and $8 million in advertising contra.

1 Like

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Helen 30 Nov 21

Thanks to Mumbrella for updating their story after I commented and then publishing my comment.

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