5paisa.com Becomes Fastest Indian Stock Brokerage by Acquiring 10 Lakh Users

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5paisa.com said on Friday that it has become the fastest Indian brokerage platform to register 10 lakh customers in the industry. 5paisa.com, the most affordable broker in the country, also ranks sixth among all brokers in India in terms of active clients, the company further mentioned. The popular brokerage firm offers a host of services ranging from no-brokerage stock investing to choosing mutual funds, insurance and loans, among others on its platform. “Its services are aimed at retail investors and high-volume traders who actively invest and trade in the securities markets and are looking for low-cost do-it-yourself services,” the company added.

The platform has seen a surge in customer numbers during the nationwide COVID-19 lockdown. This catapulted 5paisa.com among the top most profitable fintechs, the company said in a statement.

“Our mobile platform is designed to meet the real expectations of millennials and zillenials across India, which has helped us achieve this feat in just over four years,” said Prakarsh Gagdani, CEO of 5paisa. .com.

“It not only helped 5paisa.com, but also gave young people from Tier 2, Tier 3 and above cities an opportunity to invest in the stock markets for the first time,” he said. added.

At present, the 5paisa.com mobile application has more than 60,000 users. It is available in multiple languages ​​and provides essential micro-learning around investing through its 5paisa school app, the company added.

5Paisa Capital recorded a net profit of 2.67 crores in the second quarter ended September 30. Total revenue increased to 52.62 crore for the quarter under review 23.27 crores in three months ending September 30, 2019. The company said it acquired over 2.45 lakh customers in the September quarter.

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