by Suman Gupta
– Provides a platform with multiple products in one easy app with high stability and resilience
– Achieves over Rs 5,000 crore in Direct mutual fund investments
– Aims to open over 3.5 lakh Demat accounts, expecting 60 percent of the users to be from small cities
– Disrupts pricing by making delivery free and all trades at INR 10
– Expects 1 lakh active F&O traders on the platform
– Set to cross 6000Kgs of Gold volumes, maintaining its leadership in digital gold
– Targets new to wealth products investors of India, over 80% of the user base less than 35 years of age
– To educate over a million users about wealth management services through different education initiatives
New Delhi, March 4th, 2021: India’s homegrown digital financial services platform Paytm, today announced that its wholly-owned subsidiary ‘Paytm Money’ is targeting over 10 million users and 75 million yearly transactions in FY’22. The company has become the leading driver of wealth creation in the country with over 50 percent ‘new to wealth services’ users availing investment products including Direct Mutual Funds, Stocks, IPO, F&O, ETF, NPS & Digital gold on the platform. By allowing small ticket investments and allowing trading at 10 INR per order, Paytm Money is encouraging the masses to start managing their wealth actively and in a safe environment, thus promoting financial inclusion.
The company has made deep inroads into the country & now has customers in 99 percent of all pin-codes helping in democratising wealth products & services. It has over 7 million users and has also achieved over Rs 5000 crore in Direct mutual funds investments. Paytm Money aims to register over 150 percent increase in monthly new SIP registrations and a 200% increase in Total Monthly Investment volumes over the next few months. By offering Direct mutual funds users save ~1% in commissions as compared to regular mutual funds and combined with a simple product and 40+ AMCs, investing has become simpler.
The company’s stockbroking initiative is helping to bring in more active direct equity investors in an underpenetrated segment. Paytm Money aims to open over 3.5 lakh by year-end and expects 60% of users to be from small cities. By building a simple platform for investors and traders, making delivery orders free and intraday/FNO at 10 INR per order and ensuring the technology behind is stable & solid, active management of users wealth has become easier. Paytm Money is also enabling wealth creation with investments in Initial Public Offers (IPOs). It has made the process of IPO application completely digital & simple for retail investors across the country to apply for IPOs.
The company aims to retain its top position in the market when it comes to digital gold and is set to cross 6,000 kgs of Gold transacted through the platform. Digital Gold has become an important part of the wealth portfolio as its safe, 24kt pure, easy to buy from 1INR to 1Cr and a user can take delivery of the physical gold. The company has more than 60mn investors in digital gold with many opting for Gold SIP as a regular saving option.
While over 35% of investors are less than 25 years, 80% of investors are less than the age of 35 years of age and 90% are less than 40 years.
Apart from this, the company strives to bring in financial inclusion by educating the masses through initiatives such as Masterclass. So far the response for ETF Masterclass and Foundation Masterclass has been overwhelming. More than 2000 people attended these Masterclasses where experts taught the basics of trading and explained the importance of ETFs to the investors. Paytm Money aims to enable over 1 million Indians to trade and invest in capital markets through its education initiatives.
Varun Sridhar, CEO – Paytm Money said, “We strongly believe that wealth management in the country need to be democratised, embraced, and adopted by all. Technology innovation and a stable product have allowed us to bring direct mutual fund & gold to everyone and offer equity delivery for free and all FN/intraday orders as low as Rs. 10. With our 360-degree approach to providing investment solutions, we have become the leading driver of wealth creation in the country. We are humbled by the trust young investors have shown in Paytm Money, by making it their primary platform for all investments. The next 18 months of innovation, launch of new products and providing a stable platform is going to be our goal. This is just the start”
