Raize revenues at pre-pandemic levels

 In Finance, News, SME

Raize, a Portuguese company with a platform that brings together investors and companies in order to help finance new company projects for SMEs, has seen a return to pre-pandemic levels of revenue.

Raize enjoyed 87% higher revenues like-for-like on 2019. Compared to 2020, growth is 101% according to information released on Wednesday.
“We believe that the worst of the crisis has passed, and we’re now seeing many companies that want to get back to growth, invest and recover lost time,” says José Maria Rego, who heads Raize, in a communiqué.
At the beginning of 2021, the company began providing insurance services with Axa. “We are also preparing to launch new strategic partnerships in the areas of credit, collective financing and insurance which we will announce shortly,” said Rego.
“We believe that these partnerships will contribute towards us continuing to accelerate growth and boost our results,” Rego added.
With these commitments, Raize estimates that its insurance activity would represent between 10 and 15% of its annual revenues in 2021. The expected growth in revenues should be between 60% and 80%.
It still remains to be seen, however, if this will be enough to reverse the losses from 2020 which amount to €78,055 according to information sent to the market in March.