4 shares under $1 that need your attention today

These four fast-growing companies are still flying under the radar of most investors.

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Australian large cap shares are an excellent option for investors who want a high level of dividend income, but for those investors who want to invest in fast-growing companies, it is hard to go past small-cap shares.

While smaller companies are usually more risky than their larger counterparts, they also offer the prospect of significantly higher returns.

With that in mind, here are four small-cap shares that I think risk tolerant investors might want to take a closer look at:

Smart Parking Ltd (ASX: SPZ) – Trading at 32 cents per share with a market cap of $112 million.

Smart Parking develops and installs technology-based parking solutions that makes it easier for consumers to park their cars, and for car park owners to manage their operations. The company recently raised fresh capital to fund further expansion and is well on its way to becoming profitable over the next year or so.

Updater Inc (ASX: UPD) – Trading at 43 cents per share with a market cap of $121 million.

Updater is a US-based company that has developed technology to help make home relocation easier. While the company is still some way from being profitable, its offering is certainly gaining traction with users. Its estimated market share has increased from 2.2% to 7.1% in just the last 12 months.

Australian Vintage Limited (ASX: AVG) – Trading at 55 cents per share with a market cap of $132 million.

Australian Vintage is a relatively small wine producer that is behind the increasingly popular McGuigan Wines brand. The company has been successful in growing its sales volumes domestically and abroad, although the depreciation of the British pound is creating a short-term headwind for the company. Despite this, the medium-term outlook for Australian Vintage looks quite promising and the company is still to tap into a number of major wine export markets.

zipMoney Ltd (ASX: ZML) – Trading at 76 cents per share with a market cap of $118 million.

zipMoney is a digital finance and payments company that offers point-of-sale credit and digital payment services to the retail, education, health and travel industries. The company's core offering allows customers to 'buy now and pay later' and it is now being accepted as a payment option at over 3,000 locations online and in-store. Importantly, zipMoney's key financial metrics are trending strongly in the right direction and the company also remains debt free.

Motley Fool contributor Christopher Georges owns shares of Smart Parking. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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