In this episode of Give It A Nudge, Steve finally sits down with Brendan Malone, Managing Director and Group CEO of Raiz Invest (ASX:RZI), after six years of trying to get him on the show!
Brendan takes us through his fascinating career journey, transitioning from a traditional background in investment banking (RBS) in London and Asia to owning a pub in Newcastle, and finally leading one of Australia’s most successful FinTechs.
They dive deep into the evolution of Raiz (formerly Acorns Australia), managing over $2 billion in funds, and the lessons learned from their expansion into (and withdrawal from) the Asian market. Brendan also discusses the power of "round-ups," the importance of financial literacy, and how Raiz is helping Aussies—and their kids—build wealth during tough economic times.
In this episode, we cover:
* Brendan’s shift from corporate banking to startup founder.
* The "sustainable growth" philosophy vs. burning cash.
* The mechanics of Raiz Rewards and reinvesting $10M+ back to users.
* Lessons learned from listing on the ASX and expanding into Indonesia & Malaysia.
* New features: From Bitcoin allocations to "Jars" for specific savings goals.
* How user behavior changes during market volatility (Brexit vs. Trump vs. Now).
Timestamps:
00:00 – Intro: Finally getting Brendan on the show
02:00 – Brendan’s Background: From Newcastle to Investment Banking in London/Asia
05:00 – The pivot: Owning a pub & discovering Acorns
06:00 – Launching Acorns Grow in 2016
09:00 – The strategy of sustainable growth
12:00 – Explaining the “Round-Up” technology
14:00 – Adding Bitcoin & custom portfolios
16:00 – Raiz Rewards: $10M reinvested into user accounts
17:00 – Rebranding to Raiz & Listing on the ASX
19:00 – The Asian Expansion: Challenges in Indonesia & Malaysia
24:00 – Branding consistency & App design
30:00 – The power of Dividends & Financial Literacy
32:00 – Raiz Kids & Intergenerational wealth
35:00 – Data insights: Raiz Jars & saving for haircuts
46:00 – How Raiz educates users through market volatility
49:00 – What’s next for Raiz?
LINKS
Connect with Brendan → https://www.linkedin.com/in/brendanmalone/
Raiz Invest Australia → https://raizinvest.com.au/
Connect with Steve → https://www.linkedin.com/in/stevegrace/
The Nudge Group → https://thenudgegroup.com/
Give It A Nudge Podcast → https://www.youtube.com/@giveitanudge/
The Trouble With People → https://thetroublewithpeople.substack.com/
