Angel One client base surpasses 20-million mark; all eyes now on 1-billion milestone
ETMarkets.com
Synopsis
Having started as a conventional broker, Angel One transformed itself into one of the leading fin-tech investment platform providers and competes with some of the leading discount broking firms in India. In terms of active clients, Angel One is the third in India after Groww and Zerodha Broking, according to reports.
By ETMarkets.com
MUMBAI - Angel One Ltd on Thursday said the brokerage firm’s client base surpassed the 20-million mark, aided by the robust business trajectory.
The new-age fintech firm has consistently attracted a number of younger clients by extending its reach beyond metros to Tier-2, 3 cities and beyond.
“We remain steadfast in our commitment to reaching our north star – empowering one billion lives, with our cutting-edge wealth-creation solutions,” said Prabhakar Tiwari, chief growth officer at Angel One.
Angel One aims to provide smarter avenues for growing wealth through innovative investment solutions. Earlier this month, the company reported robust earnings for the quarter ended December.
Angel One’s consolidated net profit rose 14% year-on-year (YoY) to Rs 260 crore, with revenue growing by around 42% to Rs 1,059 crore.
As of December-end, its total client base was 19.5 million, up 56% YoY and 14% sequentially. The gross client acquisition during the quarter increased 149% YoY and 16% sequentially. Angel One added 2.5 million clients, the highest-ever in the quarter.
“We are in the process of expanding our offerings to partner with our clients at every important phase of their lives, as we extend our touchpoints in distributing credit and fixed income products,” Chairman and MD Dinesh Thakkar had said.
On Thursday, shares of Angel One ended nearly 2% down on the National Stock Exchange at Rs 2,880.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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Having started as a conventional broker, Angel One transformed itself into one of the leading fin-tech investment platform providers and competes with some of the leading discount broking firms in India. In terms of active clients, Angel One is the third in India after Groww and Zerodha Broking, according to reports. The new-age fintech firm has consistently attracted a number of younger clients by extending its reach beyond metros to Tier-2, 3 cities and beyond.
“We remain steadfast in our commitment to reaching our north star – empowering one billion lives, with our cutting-edge wealth-creation solutions,” said Prabhakar Tiwari, chief growth officer at Angel One.
Angel One aims to provide smarter avenues for growing wealth through innovative investment solutions. Earlier this month, the company reported robust earnings for the quarter ended December.
Angel One’s consolidated net profit rose 14% year-on-year (YoY) to Rs 260 crore, with revenue growing by around 42% to Rs 1,059 crore.
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As of December-end, its total client base was 19.5 million, up 56% YoY and 14% sequentially. The gross client acquisition during the quarter increased 149% YoY and 16% sequentially. Angel One added 2.5 million clients, the highest-ever in the quarter.
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“We are in the process of expanding our offerings to partner with our clients at every important phase of their lives, as we extend our touchpoints in distributing credit and fixed income products,” Chairman and MD Dinesh Thakkar had said.
ADVERTISEMENT
On Thursday, shares of Angel One ended nearly 2% down on the National Stock Exchange at Rs 2,880.
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