The Fintech company’s Overall Equity Market Share expanded to 22%, an increase of 78 bps MoM and 30 bps YoY
Mumbai, 9th August 2022: Fintech company Angel One Limited (formerly known as Angel Broking Limited) with its digital-first approach reported continued growth momentum in July 2022. The company’s client base grew to 10.75 million, an 88.3% YoY growth, with a gross client acquisition of 0.34 million during July 2022.
Continuing its robust growth, Angel One recorded processing 66.60 million orders, a 39.3% YoY growth. The company also recorded growth in its Average Daily Turnover, as it surged by 93.2% YoY to Rs 10.31 trillion. This led to a 30 bps YoY expansion in its Overall Equity Turnover Market Share to touch 22% in July 2022. The Average Client Funding Book stood at Rs 14.28 billion.
Taking account of the growth in July 2022, Mr. Prabhakar Tiwari, Chief Growth Officer, Angel One Ltd, said, “We are glad to share that our growth is consistent despite the ongoing volatility in capital markets. It indicates that we are on the right track, in terms of tapping the potential. We are working on making our platforms more user-friendly and personalised, and we strongly feel that we are on track to achieve our target.”
Mr. Narayan Gangadhar, Chief Executive Officer, Angel One Ltd, said, “Angel One’s month-on-month growth is an affirmation, that we are fulfilling our users’ needs with state-of-the-art technology-based products and services. Our efforts to democratise equity investments and provide access to capital markets, with focus on Tier 2, 3 and beyond cities, is facilitating this growth.”
Angel One has scaled its offerings from an app and web platform to offering Smart API, Smart Money and other third-party integrations. The fintech company is enhancing user experience with the recently-launched Super App. Available on the web and iOS, the app is built on five principles – (S.T.A.R.S) – Simplicity, Transparency, Availability, Reliability, and Swiftness.