Raiz Invest (ASX:RZI) has reported a net loss of A$6.9 million for the fiscal year, in contrast to the previous year’s loss of A$9.6 million.

Meanwhile, the company’s revenue from ordinary activities remained relatively stable at A$18.6 million, a slight decrease from A$18.7 million in the previous year.

Raiz is an investment platform that allows individuals to invest spare change automatically from everyday purchases into diversified portfolios.