Business

Angel One registers 118.1% YoY growth in its client base at 9.64 million in April 2022

Angel One registers 118.1% YoY growth in its client base at 9.64 million in April 2022
Angel One registers 118.1% YoY growth in its client base at 9.64 million in April 2022

The Fintech company added 0.44 million clients and registered 66.14 million orders.

Mumbai, Fintech company Angel One Limited (formerly known as Angel Broking Limited) announced the business growth numbers for April 2022. Showcasing utmost quality and consistency in its growth, Angel One has expanded its client base to 9.64 million in April 2022, a 118.1% YoY growth. The company’s gross client acquisition for the month stands at 0.44 million, a 41.5% YoY increase.

Angel One’s overall Average Daily Turnover (ADTO) for April 2022 grew by 114.4% YoY to Rs 9.47 trillion. The 66.14 million orders, a 65.7% YoY rise, in April 2022 indicates the high level of client activity on the company’s platform. The Average Client Funding Book also witnessed a surge of 52.9% YoY to Rs 17.16 billion. The company’s overall retail equity turnover market share stands at 21.3%.

Talking about growth numbers in the first month of the new financial year, Mr. Prabhakar Tiwari, Chief Growth Officer, Angel One Ltd, said, “We are glad that the new financial year has started at a high note with a significant expansion in our client base. Angel One will continue to make efforts to provide our services to clients in tier 2, 3 & beyond cities. Our goal is to make digital investment products and services accessible to everyone. Everyone deserves access to simplified financial and wealth creation products.”

Mr. Narayan, Chief Executive Officer, Angel One Ltd, said, “We have always focused on providing state-of-the-art solutions to investors across segments. It is exciting to see more people choosing Angel One for their investment journeys in the capital markets. It gives us confidence and a responsibility to offer the best available services in the industry. With the same in mind, we are constantly improving our services based on feedback from clients and making them as user-friendly as possible.”
Angel One leverages advanced technologies to enable its client base to participate in the capital market. It offers many digital products, including a mobile trading app, rule-based recommendation engine ARQ Prime, Angel BEE, SmartAPI, and investor education platform Smart Money. The company is currently developing its Super App, which will be introduced to the market in Q1 FY23.
About Angel One Ltd:
Angel One Limited (previously Angel Broking Limited) is India’s largest listed retail stockbroking firm for active NSE clients. Angel One is a technology-driven financial services firm that offers its clients brokerage and advisory services, margin funding, loans against shares, and the distribution of third-party financial products. Broking and related services are provided via online and digital platforms and (ii) a network of Authorized Persons.
To provide a superior digital experience, Angel One Ltd makes heavy use of Artificial Intelligence and Machine Learning. For over 9 million clients, the company has created a slew of digital properties such as Angel One Mobile App, Angel BEE Mobile App, ‘ARQ Prime’ a rule-based recommendation engine, ‘SmartAPI’ a free-to-integrate API platform, ‘Smart Money’ an investor education platform, ‘SmartStore’ a marketplace for fintech products, learning platform, and social forums.
This press release is drafted by Prittle Prattle News.
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