The Fintech platform’s state-of-art digital solutions providing a seamless experience to GenZ and Millennials has resulted in 142% YoY growth of the client base
Mumbai : The Fintech company, Angel One Limited (formerly known as Angel Broking Limited), continues to record strong performance for the sixth consecutive month in September 2021. The Company’s client base expanded to 6.52 million, a growth of 142% YoY, with the gross client acquisition of 0.39 million clients, a 99.3% YoY growth, in September 2021.
An expanding client base has led to paramount growth across all business parameters. The Company’s overall Average Daily Turnover (ADTO) grew by 331% YoY to Rs 6.35 trillion in September 2021. Angel One’s Average Client Funding Book clocked 77% YoY growth to Rs 14.08 billion during the said month. Similarly, the number of trades rose to 101.07 million, a 97.2% YoY growth.
With its state-of-the-art digital solutions, the Fintech platform is emerging as a preferred choice among GenZ and Millennials. Angel One’s products like rule-based investment engine ARQ Prime and investor education platform Smart Money enable new-age investors, especially in Tier-2, Tier-3 and beyond cities, to make informed decisions in the capital market. The consistent growth in client base in FY22 reflects that the Company’s efforts to tap the underpenetrated markets are bearing fruit.
Speaking about the growth, Mr. Prabhakar Tiwari, Chief Growth Officer, Angel One Ltd, said, “Our vision to integrate technologies like Artificial Intelligence and Machine Learning into our products is to enable an impeccable wealth creation journey for GenZ and Millennials. We are constantly working towards integrating new platforms and introducing advanced products to our clients. In the coming months, on the back of technology, we look forward to adding more members to the Angel One family, especially from Tier-2, Tier-3 and beyond cities.”
Mr. Narayan Gangadhar, Chief Executive Officer, Angel One Ltd, said, “Our digital-first strategy created the ground for innovation, leading us to this expansive client base today. Our concerted efforts at integrating technology and financial services have amplified the digital services for Indian investors. With our full-service brokerage and advisory services, we are committed to building platforms that are in line with the contemporary needs of the new generation of investors.”
Angel One is leveraging technologies like Artificial Intelligence and Machine Learning to create digital products. As a Fintech platform, the company is expanding its bouquet of products by venturing into the AMC segment, loans and insurance, etc.