The brief company experienced a remarkable 17.3-fold year-on-year increase in Unique Mutual Fund SIPs registered
Prabhakar Tiwari,Chief Growth Officer, Angel One
FinTech BizNews Service
Mumbai, February 13, 2024: Angel One Limited, a leading Fintech Company continues its growth momentum as its client base expanded to 20.43 million, a 58.5% YoY growth, with gross client acquisition of 1.03 million, a 162.7% YoY rise, in Jan'24. Angel One remains committed to empowering a billion lives through harnessing the power of data and technology.
Angel One’s dedication to providing a seamless experience has led to its growth across business parameters. In Jan’24, there were 166.35 million orders, a 93.4% YoY increase, equivalent to 7.56 million average daily orders. The company’s average client funding book stood at Rs 22.49 billion in Jan'24.
Angel One continued its impressive expansion with a noteworthy increase in its Unique Mutual Fund SIPs, reaching 485.49 thousand, marking a remarkable growth of 17.3-fold YoY growth. The company also experienced a significant rise in its average daily turnover, reaching Rs 43,879 billion, reflecting a 157.8% YoY growth. Additionally, Angel One's overall equity turnover market share, based on option premium turnover, expanded by 52 bps MoM to 17.8% In Jan'24.
Mr. Prabhakar Tiwari, Chief Growth Officer, Angel One Limited, said, "Our commitment to innovation and customer-centric solutions has been the driving force behind our growth. Angel One’s SuperApp exemplifies our commitment to innovation and evolution in this domain. As we continuously enhance our SuperApp, enabling clients to enhance their investing journey in equities, Mutual Funds and other asset classes, our aim is to empower individuals from diverse backgrounds, including those residing in tier 2, 3 and beyond cities, to achieve their financial aspirations confidently and easily.”
Mr. Dinesh Thakkar, Chairman and Managing Director, Angel One Limited, said, "At Angel One, our commitment to innovation remains resolute, as exemplified by our remarkable month-on-month growth. We persistently integrate cutting-edge technologies into our operational framework, evolving profoundly over the years. Our mission is to empower a billion lives, and our SuperApp serves as a testament to our unwavering dedication to harnessing the strategic potential of data and technology for the benefit of our clients."
About Angel One Limited:
Angel One Limited, (NSE: ANGELONE, BSE: 543235) is the largest listed retail stock broking house in India, in terms of active clients on NSE. Angel One is a technology-led financial services company, providing broking and advisory services, margin funding and distribution of third-party financial products to its clients. The broking and allied services are offered through its digital platforms to clients, acquired directly and through its assisted business units.
Angel One Limited extensively uses Artificial Intelligence, Machine Learning and Data Science to create a superior digital experience. The company has built a host of digital properties like Angel One Mobile App, ‘ARQ Prime’ a rule-based recommendation engine, ‘SmartAPI’ a free-to-integrate API platform,
