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3 exciting ASX growth shares to buy with $3,000

Are you interested in adding some growth shares to your portfolio? Then I think the three named below could be great options.

I feel all three are well-positioned to deliver above-average earnings growth over the next few years, which could lead to them generating strong returns for investors.

Here’s why I would invest $3,000 across the three:

Bravura Solutions Ltd (ASX: BVS)

The first ASX growth share to consider investing some of these funds into is Bravura Solutions. It is a financial technology company responsible for the Sonata wealth management platform. This popular wealth management platform allows advisers to connect and engage with clients via computers, tablets, or smartphones. Demand for the platform has been growing very strongly in the past few years and has underpinned strong earnings growth. The good news is that demand shows no signs of slowing. And combined with recent acquisitions that have given Bravura access to new and lucrative markets, I believe this means it is well-positioned to grow its earnings at a solid rate over the coming years.

PolyNovo Ltd (ASX: PNV)

Another growth share to consider buying with these funds is PolyNovo. It is a medical device company which I think could be a great long term option due to its NovoSorb Biodegradable Temporising Matrix (BTM) product. This exciting product was developed at CSIRO and is used as a wound dressing to treat full-thickness wounds and burns. It currently has a sizeable $1.5 billion market opportunity, but management plans to extend its use into the hernia and breast treatment markets. If this is successful, it could be very lucrative for the company. It estimates that these markets would add an extra $6 billion to its addressable market.

Pushpay Holdings Ltd (ASX: PPH)

A third growth share that I would invest $1,000 of these funds into is Pushpay. This donor management platform provider has been benefiting greatly from the shift to a cashless society and the digitisation of the church. Adoption of its industry leading platform has been increasing rapidly in recent years, leading to Pushpay’s revenue and operating earnings growing at an explosive rate. The good news is that Pushpay still has a very long runway for growth and is aiming to win a 50% share of the medium and large church market. If it achieves this, it will have captured a US$1 billion revenue opportunity. This compares to the US$127.5 million operating revenue it recorded in FY 2020.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of POLYNOVO FPO and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia has recommended PUSHPAY FPO NZX. 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 Scott Phillips.

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