Stock Market

Angel Broking continues to grow its client base with 145.7% YoY growth in August 2021

Angel Broking

The Fintech’s robust growth is the outcome of the Millennial-centric approach and AI and ML-based digital properties

Mumbai, September 9, 2021: Angel Broking Limited (Angel Broking or ‘the Company’), a Fintech platform, has clocked a solid performance as it recorded the highest client base of 6.15 million in the month of August 2021, representing a 145.7% YoY growth. The Company added 0.45 million clients in August 2021, marking 150.1% YoY growth, more than double the 0.18 million gross client acquisition in August 2020. In the five months of FY22, the Fintech platform has added more than 2 million clients, which is more than 88% of approximately 2.4 million clients added in FY21. 

In FY22, this is the fourth consecutive month when Angel Broking added more than 0.40 million clients in a month. The robust growth in client acquisition results from the Company’s efforts to tap the underpenetrated markets in Tier 2 and Tier 3 and beyond cities with easily accessible digital solutions. Recently, the Company rebranded itself to Angel One, a one-stop solution for all financial needs, to draw the new-age investors. The steady client acquisition rate is leading to widely visible growth across parameters. 

The high activity by a growing client base is reflected from the Company’s rising Average Daily Turnover (ADTO), which stood at Rs 5.7 trillionin August 2021, higher by 355.3% YoY. Meanwhile, the company’s Average Client Funding Book also witnessed 84.9% YoY growth to Rs 16.08 billion and the number of trades processed increased by 84.7% YoY to 96.16 million trades in August 2021.

The increased participation is the outcome of the Company providing GenZ and Millennials with digital solutions at the click of a button. Leveraging Artificial Intelligence and Machine Learning, Angel Broking has provided its clients with solutions like ARQ Prime, enabling them to undertake rule-based trading. Similarly, its free-to-integrate SmartAPI is used for creating advanced charts and facilitate rule-based trades. 
Speaking about the strong business growth, Mr. Prabhakar Tiwari, Chief Growth Officer, Angel Broking Ltd, said, “Our strategy to integrate futuristic technologies into our operations has worked well for our clients. We have strengthened our capabilities to serve our expanding client base and hope to serve as many people as possible. By making the stock market accessible to Indians in Tier 2, Tier 3 and beyond cities with our technologically advanced digital properties, we are helping them realize their investment dreams and in their wealth creation journey. With our recent rebranding to Angel One, we look forward to expanding our client base across our bouquet of products.”

Mr. Narayan Gangadhar, Chief Executive Officer, Angel Broking Ltd, said, “We are glad that our clients are benefitting from our timely technological advancements in the form of various platforms. Our Artificial Intelligence and Machine Learning-based solutions ranging from ARQ Prime to Angel BEE, Smart Money and SmartAPI have eased the investment for the tech-savvy investors. We will continue to strive to provide the growing Angel family across geographies with best-in-class tech-driven solutions that go beyond broking.”

Angel Broking has transformed into a Fintech platform with 100% direct clients being onboarded digitally. Apart from offering trading solutions, the Company also contributes to making its young investors aware of the equity market with education platforms like SmartMoney. Angel Broking plans foray into the AMC segment along with providing people with other financial solutions like loans, insurance, etc. 

Disclaimer: The following Press Release comes to you under a network of a strategic syndication partnership with .Prittle Prattle News takes no editorial responsibility for the same.

WhatsApp us

Skip to toolbar