Why the Raiz (ASX:RZI) share price is up 4% today

The Raiz Invest Ltd (ASX: RZI) share price is up this morning after the company announced its funds under management (FUM) and active customers metrics for December 2020.

At the time of writing, shares in the mobile-focused micro-investing platform are trading hands at $1.02 cents, up 4.1%.

By the numbers

The metrics show that across its operations, active customers increased by 8.1% month over month to 343,573. Active customers have grown by 62.3% compared to this time last year.

Funds under management are a key metric for the business as it derives revenue by charging a management fee on accounts over $10,000. In Australia, FUD grew by 4.5% month over month to $524.57 million for its core ‘retail’ portfolio offerings. While…