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Paytm bullish on wealth tech amid rising young investors
December 09, 2021
Digital brokerage player, Paytm Money sees a developing pattern for investments towards ETFs, securities and hazard the executives as Covid-19-induced uncertainty has prompted people to get unemotional with regards to their investments.
Varun Sridhar, CEO, Paytm Money, said wealth tech is arising as the following large industry before long as more youth is turning to investments utilizing digital platforms like Paytm Money.
On the suitability of the digital financier business, Sridhar said that there is zero client acquisition cost for the organization, while the income sources incorporate brokerage charges, fees from portfolio the management services, advisory revenues and education products and cross selling from Paytm.
“At present, we get 35% of the new account openings from the young people under 25 years. This is developing at a pace of around 15% every month. We began in September 2020 and today, we have around 6 lakh accounts,” said Sridhar.
Paytm Money opened its first wealth management sales office in Ahmedabad, as the organization bets big on Gujarat’s investor community. It has one lakh clients from Gujarat, making it top in the country as far as transaction volume and furthermore, north of 11% the IPO applications on the platform are from this State. “Clients here likewise have the highest participation in F&O trading and ETF investments,” said Sridhar.
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