Raize profits 21 thousand euros in the first semester

  • ECO News
  • 16 August 2018

The first results on the company's performance in Lisbon's stock market were released: 1 month in, €21 thousand in profit. Last year, Raize had closed accounts with a negative balance of €21 thousand.

The first results regarding the company’s first month in the stock market are already out: €21 thousand in profits during the first semester of the year in contrast to the losses recorded the previous year of precisely around €21 thousand.

The financing platform’s debuted in the stock market on the 18th of June this year, after its successful IPO (public offer) valued at €2 per share. This Thursday, Raize’s share valued €2,34, accounting for a 17% increase since its market debut a month ago.

Its market cap stands now at €11,7 m. Since it became a listed company, Raize is under obligation to report a financial statement with its results. That’s exactly what happened this Thursday morning, through a report published on the company’s website. The fact that the company is listed on Euronext Access, however, is exempting Raize from providing as much detailed information, as for instance Galp and EDP, and other PSI-20 companies, are usually forced to.

The financial report also showed that there has been a 60% increase in Raize assets’ valuation during the first semester, from €1,6m to €2,56m, which has been made possible by the increase of their assets portfolio, cash balances and deposits.

Liabilities increased by around 90% from €1,05m to €1,98m during the same period which has been justified by their clients rise in loans and resources, from €900 thousand to around €2m.

Raize provides loans to small to medium-sized enterprises (SME), and until last month 31 thousand investors had become affiliated with the platform. Focused on SME lending it has financed and supported companies in a total of €15,5m, accounting for 774 operations, accordingly to Euronext Lisbon. Raize is Europe’s “first crowdfunding company to go public”.