Compelling ASX shares with a lot of growth potential are some of the best investments we could make.
Part of the difficulty in finding great investments is picking them at attractive valuations. Plenty of high-quality businesses are already priced for a lot of growth, so it's worthwhile being mindful of how realistic it is an investment could perform. That's why I like to invest in businesses that haven't reached the end of their growth journey.
I believe these two investments have a lot of growth potential, but aren't priced too highly for how big they could become.
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Airtasker Ltd (ASX: ART)
Airtasker operates a platform that enables people to advertise tasks that need doing and allows taskers to find work. There is a huge array of jobs that can be advertised on the platform such as accountancy, removalists, photography, furniture assembly, pest control, delivery and plenty more.
The compelling ASX share earns most of its revenue in Australia, though it is also rapidly growing in the UK and US, partly thanks to advertising arrangements with media companies in those countries.
In the FY25 fourth quarter update, it said Airtasker marketplace revenue grew by 28.9% to $11.7 million, with Airtasker Australia growth of 20.7% to $10.3 million. On a full-year basis, Airtasker Australia revenue grew 13.5% to $41.6 million, despite the challenged economy.
UK FY25 fourth quarter revenue rose 104.8% year-over-year to £512,000, with 36.8% growth in the number of posted tasks. It saw ongoing market penetration in Birmingham and Manchester. The US saw quarterly revenue increase 754.5% year-over-year to US$188,000.
The business said in its fourth quarter update its Australian marketplaces delivered around $4.8 million of cash flow after all global head office expenses.
This compelling ASX share has a very high gross profit margin, meaning nearly all the new revenue is turning into gross profit, which it can then re-invest into more growth spending.
In three years, I think this business could be significantly larger and more profitable.
WCM Quality Global Growth Fund (ASX: WCMQ)
This is an exchange-traded fund (ETF) that is managed by the investment team from WCM, a California-based fund manager.
It's focused on businesses with excellent competitive advantages and that those advantages are improving over time. This usually translates into profit margins (and the bottom line) growing at a good pace. WCM also looks for a corporate culture that fosters that ongoing improvement of the competitive advantages, which can also be called an economic moat.
In the July 2025 update, WCM revealed that it has delivered an average return per year of 16.2% since inception in August 2018. Past performance is not a guarantee of future returns, of course, but it shows how well the investment process has performed.
I'm calling this a compelling ASX share because we can buy it on the ASX, and I appreciate how it can give us exposure to businesses that are not listed on the ASX.
At 31 July 2025, the biggest positions in the portfolio were AppLovin, Amazon.com, 3i Group, Saab and Taiwan Semiconductor.
I like this fund as a way to gain exposure to high-quality global names, but not necessarily relying predominately on the 'Magnificent 7' for those returns.
