5paisa.com Clocks Record-Breaking 650% Growth in Customer Acquisition in FY18

by Shrutee K/DNS

Mumbai: India’s fastest growing digital discount broking platform, 5paisa.com said that its customer base has grown by 650% to 75,000 consumers in the fiscal year 2018, helped by an advanced technology platform and most affordable brokerage in the industry. 5Paisa.com is owned by 5Paisa Capital Ltd, India’s only listed financial technology firm.

The company said that 65% of its customers come from Tier 3 markets and beyond. 5paisa.com enjoys second place in the extremely competitive discount broking market with revenue of Rs 19.65 crore, a growth of 160 % on-year in FY18.

Since its launch in April 2016, the firm has grown its top line by about 35% quarter on quarter with its differentiated offering of zero brokerage and a flat fee of just Rs 10 per trade for any size of trade – 98% lower than its competitors. 5paisa.com is the only online market place in India offering all kinds of financial products digitally and without human intervention.

The firm offers a host of services under one umbrella and will soon unbundle its financial advisory, turning it into a completely digital offering with features such as robo advisory and end-to-end algo-based solutions that help customers trade as well as manage and monitor their portfolios.

5Paisa said, about 70% of its customers are first-time investors while 90% are under 40 years of age with growing customer base among millennials. 5Paisa.com is becoming the natural stock investment and trading platform for the do-it-yourself customers. 

               

“We are proud of our progress and thankful to our loyal customers. We look forward to offering unique, customised solutions that are paperless, easy to use and extremely low-priced. Our objective is to emerge as a complete digital marketplace for all financial products and to offer the best technology and innovation to our customers,” said Prakarsh Gagdani, CEO, 5Paisa.com.

The company has taken the reverse approach of unbundling services to lower costs for customers. While the trading platform offered by 5Paisa is much superior, its costs are almost 98% lower than its competitors’. Apart from stock trading, the company provides a host of other services such as mutual funds, IPO investments, insurance, research, etc.

About 5Paisa Capital

5paisa is one of the fastest growing digital discount brokerage companies catering to the growing do it-yourself (DIY) customer segment which prefers least intermediation costs for availing financial services.  It is a 100 per cent digital platform, enabling an investor to complete his entire transaction   online. It is the first in its category to enable Aadhar and Digital signature, and make account opening process completely online and paperless. The Robo Advisory platform of 5Paisa is also unique as it is completely algorithm based, enabling customized advisory services on the real-time basis without any human intervention. This Robo advisory service is not just available for stocks but also for mutual funds and insurance.