3 amazing ASX growth shares to buy in May with $20,000

If you have $20,000 available to invest in May, the ASX growth shares in this article could be worth a closer look.

Let’s see why they could be standout picks this month:

WiseTech Global Ltd (ASX: WTC)

The first ASX growth share that continues to stand out is WiseTech Global.

WiseTech provides software to the global logistics industry through its CargoWise platform. This software helps freight forwarders, customs brokers, and logistics providers manage complex cross-border supply chains.

It operates in a large, fragmented industry that is still becoming more digital, and global logistics is full of manual processes, regulatory complexity, and time-sensitive decisions. That creates a strong need for software that can improve efficiency and reduce friction.

WiseTech has also expanded its product suite through acquisitions and internal development, giving it more ways to deepen relationships with customers.

As logistics companies continue investing in technology, WiseTech appears well placed to capture more of that spending.

Hub24 Ltd (ASX: HUB)

Another ASX growth share worth looking at in May is investment platform provider Hub24.

It has been benefiting from a long-running shift away from legacy wealth platforms toward newer, more flexible technology.

Funds under administration are a key driver for the business. As more advisers move client assets onto the platform, Hub24 can grow revenue while also benefiting from scale.

The company has built a strong position in a competitive market by focusing on functionality, service, and adviser needs. That has helped it win market share from larger incumbents. In fact, it continues to report market share gains quarter after quarter. This saw it recently reveal a market share of 9.7%, which was up from 8.3% a year ago.

With Australia’s wealth management industry still evolving, Hub24 has a long runway if it can keep attracting advisers and growing platform balances.

Life360 Inc (ASX: 360)

A third ASX growth share to look at is Life360.

It has built a global platform focused on family safety, location sharing, and digital protection. Its app is used by around 100 million people, giving the company a large base from which to grow.

The opportunity is increasingly about turning engagement into earnings. Life360 can do this by converting more users into paying subscribers and expanding the services available within its platform.

This makes the business more interesting than a simple app story. It is building a subscription ecosystem around safety, mobility, and family connectivity. It has even launched a pet service too.

If Life360 continues improving monetisation while growing its global user base, it could deliver strong earnings growth over the coming years.

The post 3 amazing ASX growth shares to buy in May with $20,000 appeared first on The Motley Fool Australia.

More reading

• Generation Development Group completes $1.8bn client migration
• Why Life360 shares are a strong buy this week
• 5 things to watch on the ASX 200 on Thursday
• 3 of the best Aussie ASX growth shares to buy and hold until 2036
• 3 ASX 200 shares on my May watchlist

Motley Fool contributor James Mickleboro has positions in Life360 and WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24, Life360, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Life360 and WiseTech Global. The Motley Fool Australia has recommended Hub24. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.