Within a few months of launch, Paytm Money crossed over 1 million users mark to become the largest platform for mutual fund investments in India.
Paytm Money – India’s largest online platform for mutual fund investments and the wholly owned subsidiary of One97 Communications Limited that owns & operates Paytm, today announced that it has received approval from SEBI (Securities & Exchange Board of India) to offer Stock Broking service to its users.
Paytm Money has received approval for its membership from Bombay Stock Exchange (BSE) & National Stock Exchange (NSE). It plans to introduce new product & offerings through its app such as investing & trading in equities, derivatives, currency, commodities, ETFs and other exchange traded products.
“With this approval, Paytm Money is moving towards its aim to be a full stack wealth management platform. Making investing in Stock Markets easier & accessible is in line with our mission to bring wealth creation opportunities to millions of Indians. We expect to go live within few months and eventually offer all exchange traded products to our users.” said Pravin Jadhav, Whole-time Director at Paytm Money.
The company will announce more updates on products, offerings, features, pricing and other details when the stock trading service goes live.
Within a few months of launch, Paytm Money crossed over 1 million users mark to become the largest platform for mutual fund investments in India offering commission free investing in direct Mutual Funds. Recently, it introduced Investment Packs – a curated list of mutual funds, based on research conducted by their in-house advisory team. The company has introduced many features aimed towards simplifying the investing experience for its users.
Paytm Money is headquartered in, and operates from Bengaluru, its 250+ member team is led by Pravin Jadhav, Whole-time Director. The company has partnered with 38 AMCs (Asset Management Companies) covering over 95% of industry AUM of the mutual fund industry. Paytm Money aims to become a full-stack investment & wealth management services company and bring wealth creation opportunities for millions of Indians.