Acorns Australia rebrands to Raiz Invest
Investment platform, Acorn Australia has rebranded to Raiz Invest with the rebrand including a new logo, colour and scheme.
The announcement:
Acorns Australia rebrands to Raiz Invest
Sydney, Australia – April 23rd – Acorns Australia has rebranded to Raiz Invest, a move that follows the company’s announcement in February to divest from Acorns.
From today, all users will be prompted to update their Acorns Australia app, after which they will see the new Raiz Invest brand, logo and colour scheme. The website will also reflect the new name and branding.
Raiz Invest Managing Director, George Lucas, said: “Today marks another significant milestone in our company’s history with the name change from Acorns Grow Australia to Raiz Invest.
“After our recent agreement with Acorns, we felt a new name was an important step forward. The change reflects our new autonomy and our ability to move quickly to develop and implement product improvements that are responsive to our customers in the Australian market. This resulted in our recent announcement of the introduction of a superannuation product.
“Whilst our users will not notice any immediate difference to the way the app works, they will start to notice a product that becomes more tailored to their unique needs, with changes based on the feedback they share.
“Since launching Acorns Australia in 2016, more than 460,000 people have signed up showing that Australians want the confidence to know they are in control of their finances and are doing the best they can to achieve their financial goals. Through its philosophy of automatically saving and investing small amounts on a regular basis, Raiz, is enabling this financial confidence.”
The same Australian team that has been operating and running the successful Acorns Australia platform, investment strategy and customer care, continue to do so for Raiz Invest.
George Lucas said: “Whilst our name has changed, our commitment to improving the financial confidence and literacy of Australians remains the same. In the coming months we’ll continue to share improvements and bring new products to market that help our customers save in the background of life.
Horrible name for a FS/investments platform. Sounds like they were trying to sound ‘hip and happening’ to ‘be in’ with the emerging affluent, dare I say this word… millennial crowd…
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Worst rebranding in history.
Took an idea that I really liked and have invested with into something that seems so amateurish as to be a real risk to the money that I have invested there.
I’ll be pulling my finds out of Raiz in fairly short order.
Did they test this new name on a focus group of 12 year olds from 2005?
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Disgusted, I loved the acorns philosophy.Ruined
I will be withdrawing soon
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The new logo looks like a crashing stock chart to me.
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Awful name – at least Acorns as a name told you was going to happen – plant a seed and grow a tree
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Err ok, so this product just got lame.
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Goodness. So much negativity about a name. The philosophy is the most important. I love it. Now, when are you floating? ?
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Hmmmmm don’t like the name at all. Harder to promote to others as well. What a bummer! Still like what the company does though. They should have surveyed the name first maybe?
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Me too. Disliked the new name. Pulled out the whole balance.
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I’m so disappointed at the lame new name for Acorns.
It carries the whiff of smarty-pants types in steel and glass towers laughing all the way to the bank.
I decided to withdraw just short of the tiny sum I had invested.
Their software only acknowledged withdrawal of the full sum.
I imagine that’s Raiz’s way of being able to charge a ‘closing account’ fee.
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I am disappointed at the loss of the underlying reason for Acorns i.e. give people a chance to invest on the stock market, when they would probably never have done so. The $1000.000 one off cash bonus paid to Mr Lucas as part of the transition really sealed it for me. Account closed
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