Angel Broking reports 298.2%/year growth in client acquisition
The Indian broking industry has reached an inflection point and marked its entry to the high growth trajectory, Narayan Gangadhar, Chief Executive Officer of the Mumbai-registered Angel Broking Ltd, said in a release on 7 June 2021.
“Going forward, people will only choose those brokerages that transfer them a complete peace of mind,” he said, announcing the Fintech’s 298.2% on the year growth in client acquisition.
“Here, the suite of client-centric services and platforms will make all the difference. Angel Broking has a considerable advantage on this front with its full-stack products and services. We cater to investors and traders of all proficiency levels with technology being the cornerstone of our organization,” said Gangadhar.
Angel Broking has now surpassed its own record in terms of monthly client acquisition, acquiring 0.43 million clients in May 2021, ~13% higher than its previous record of 0.38 million clients in March 2021.
Angel Broking’s remarkable growth is backed by its extensive use of Artificial Intelligence (AI) and Machine Learning (ML) to augment its client experience.
The Fintech’s client base has now reached 4.84 million, which is 140.4% higher as compared to May 2020. The average client funding book has also simultaneously increased by 108.9% and is now at Rs.11.74 billion.
Leveraging its robust technological infrastructure, Angel Broking processed 86.49 million trades in May 2021, which is a growth of 117.9% over the year-ago period.
“At Angel Broking, we have developed an advanced IT infrastructure, wherein all of our operations are driven by technology. We have given special emphasis to AI and ML to ensure superior wealth creation for our clients,” said Prabhakar Tiwari, Chief Growth Officer, Angel Broking.
“This technological edge proves its volume in gold for investors and traders, which is why they are actively joining Angel Broking. We thank all of the stakeholders including the team Angel Broking, our partners, and, above all, our brand patrons for this achievement,” said Tiwari.
“Angel Broking takes pride in serving its clients the best way possible. Over the yesteryears, we have made a lot of changes to our business model and integrated technology into our across-the-board operations. It is a delight to say that the fruits of our efforts are finally paying off,” said Dinesh Thakkar, CMD, Angel Broking.
The Overall ADTO of the Fintech broker increased by 778.0% YoY in May 2021 to Rs.4.75 trillion. The development also marks an increase of 1,599 bps in terms of overall retail equity turnover market share to 23.5% in May 2021. The respective figure has increased by more than three-fold in a year.
Angel Broking is one of the largest retail broking houses in India in terms of active clients on NSE. It is a technology-led financial services company providing broking and advisory services, margin funding, loans against shares and financial products distribution to its clients under the brand “Angel Broking”. Broking and allied services are offered through (i) online and digital platforms, and (ii) network of over 15,000 Authorized Persons.
The Fintech had more than 9.2 million downloads of Angel Broking mobile application and over 1.1 million downloads of Angel BEE mobile application, which enable clients to avail services digitally. The customer outreach spans across approximately 97.9% or 18,854 pin codes in India. It manages ~Rs.292,040 million in client assets and over 4.1 million operational broking accounts,” said the company. #investment #banking #technology #fintechs #startups /fiinews.com
