Australia's Douugh rises on progress towards Australian launch of financial app

Stakk

20/06/2022 04:20

** Shares of fintech co Douugh  DOU.AX  rise as much as
26.7% to A$0.019, their best intraday gain since Nov. 10, 2021
    ** Says it got accreditation from its backend-as-a-service
partner Railsr to launch a beta version of its financial "super
app" in Australia  urn:newsml:reuters.com:*:nASX5MfTgk 
    ** App aims to help users budget, automate saving, invest in
equity and cryptocurrency markets, among others 
    ** "We think the timing is right with rising inflation and
the end of excess consumer spending" - CEO Andy Taylor 
    ** On track for full market launch of the app later in 2022
    ** Douugh hits highest trading price since June 10
    ** DOU down 78.3% YTD as of last close 


 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))