2022 is the year where we have seen people move from parking their money in fixed deposits and current accounts to newer investment options like stocks and mutual funds. According to a report by the ICRA, The net monthly demat accounts addition increased from 11.9 lakh in FY2021 to 28.33 lakh in the current financial year, while it was only 4.1 lakh per month during FY2020. This exponential rise in retail investor participation is primarily due to the ease of investing in India through new age wealthtech apps. By making investing simple, accessible and trustworthy these four apps below have become the favourites for retail investors in India.
Zerodha
Founded in 2010 with the goal of breaking all barriers that traders and investors face in India, Zerodha through their disruptive pricing models and in-house technology has become the biggest stock broker in India. The platform offers a range of features like charting tools, data widgets, and integration with third-party apps to make trading easy and fast. They have an active customer base of over 6 million contributing over 15% of all Indian retail trading volumes. Although it is a little expensive with their annual charges amounting to 500 rupees per year, Zerodha offers zero brokerage fees for equities, delivery trades and mutual funds. Nithin Kamath and Nikhil Kamath are the co-founders of Zerodha.
Groww
Groww is a Bangalore based investing platform founded in 2017. In no time this platform became the most preferred investing app for millennials this 2022. With the aim to make investing simple, they provide discount brokerage services to invest in Equity, IPO, and Direct Mutual Funds. Following user demand, Groww also added stocks in the early half of 2020 and the same year launched digital gold, ETFs, Intraday trading, IPOs in quick succession. Currently, more than 1.5 crore users across 900+ cities in India trust Groww for their investment needs. By having a sharp design and user friendly interface, Groww is simple and the go to choice of first time investors in India. Neeraj Singh, Harsh Jain, Lalit Keshre, and Ishan Bhansal are the co-founders of Groww
Fisdom
Fisdom is a consumer wealthtech company founded in 2016 that provides savings, investments, taxation and HNI wealth solutions. The Fisdom app helps customers access a holistic set of financial products including stocks, mutual funds, pension funds (NPS), sovereign bonds, insurance, and tax filing. Catering to a large pool of investors, this app follows a phygital model to bring the benefits of technology and the assurance of a human touch together. Through an intuitive user interface and rich dashboards combined with high-quality research content and guidance, Fisdom is making investing simple, accessible and trustworthy for their investors. Currently, Fisdom has 1 million+ customers and Assets Under Management (AUM) of over Rs. 5000 crores. Subramanya S V and Anand Dalmia are the co-founders of Fisdom
Upstox
Founded in 2010, Upstox is the first investment platform to launch unlimited trading plans at a fixed price. Investors and traders can find a wide spectrum of investments like stocks, mutual funds, commodities, derivatives, currencies, and ETFs in the Upstox app. Through a seamless digital platform that brings together the best of cutting-edge technology, intuitive design, ease and safety, Upstox helps consumers participate confidently in the public markets. The app currently has a customer base of over 10 million with active users over 5 Million+. Ravi Kumar, Kavitha Subramanian and Shrini Viswanath are the founder and Co-founders of Upstox.
ET Money
ET Money started in 2016 with a mission to simplify the financial journey of new-age Indians. Its unbiased business model, consistent efforts to make investing easy and the inclination to help Indians make intelligent investing decisions has helped ET Money carve out a niche and attain a successful position in India’s wealth tech space. Today, over 10 Million users from more than 1400 cities trust ET Money with over Rs. 30,000 Crore of their investments. Founded by Mukesh Kalra, the company offers direct mutual funds, NPS, insurance along with a subscription based service ET Money Genius. ET Money Genius, allows investors to access personalized investment strategies across mutual funds and stocks. Through this membership, ET Money is building India’s largest financial subscription that provides superior investment advisory, completely aligned to investors’ interests, at a fraction of the cost.
