Raize’s profits fall 66% to 21 thousand euros in 2022

According to the company, last year, Raize obtained revenues of 1.27 million euros, an increase of 16% compared to 2021, “benefiting from the growth of the financing activity in Portugal”.

‘fintech’ (financial services technology company) also reported a 25% increase in total costs due to “a strengthening of market positioning – through personnel, marketing and technology – as well as the macroeconomic context”.

Raize obtained an EBITDA (earnings before taxes, interest, depreciation and amortization) of 96 thousand euros, a decrease of 33% compared to 2021, he revealed.

Raize reached, last year, a “new maximum amount of loans granted in a total of 15.1 million euros, 10% more than in the previous year, in 628 transactions”, with “loans originated and managed by Raize yielding a total of 1.3 million euros in gross interest in 2022 (+17% compared to 2021), reflecting an average annual rate of return of 5.8% after losses”.

The company also reported a “total of 24.1 million euros of credit under management at 31 December 2022”.

According to Raize, since its formation, the group “raised more than 100 million euros from retail and institutional investors for investment in Portuguese SMEs” and “invested more than 72 million euros in the primary market”.

The company also carried out 3,304 financing operations, he added.

“The priority in 2023 is to accelerate the company’s growth in Portugal in the area of ​​corporate financing, with a view to investing in expanding the investor base, including through the signing of new financing agreements with banks and funds”, highlighted Raize .

The company also expects “a reinforcement of the level of investment in technology for capturing and processing data and also risk analysis”.

According to the same note, the first indicators for 2023 “are positive”, hoping that “despite the context of uncertainty” “companies and investors will continue to bet on the country over the next year”.

“In this context, and given the current economic situation, the implementation of structural reforms under the PRR [Plano de Recuperação e Resiliência] and the use of the respective funds, but also those referring to the Multiannual Financial Framework, become particularly critical to sustain economic growth and the economic and financial performance of companies in Portugal”, he explained.

Thus, “Raize, in partnership with Flexdeal, intends to assume itself as a strategic co-investor in various programs being implemented by Banco Português de Fomento, in order to contribute to the capital reaching the real economy as quickly as possible”.

Flexdeal, a securities investment company for the promotion of the economy (SIMFE), is Raize’s largest shareholder.