ETMONEY- touted to be India’s largest app for financial services has now announced its achievement of crossing the mark of Rs.2,000 crores of money invested in Mutual Funds through its platform.
Furthermore, the company is appending more than Rs.150 Crores of new investment transaction value every month from investors over 1,200 cities.
The good news came nearly five months after ETMONEY switched to Direct Mutual funds. This has further allowed the users to invest at 0% commission through the platform. Not to mention, low cost and transparent investment options from a single place have benefitted the users. Since then, ETMONEY has doubled the amount of investment done on its platform, with SIPs being the most prominent investment mode.
“India is leapfrogging in terms of financialization of assets and ETMONEY is enabling it rapidly through mutual funds. We are aiming to grow to Rs.5,000 Crores of mutual fund transactions in the next 12-18 months,” said Mukesh P Kalra, Founder & CEO of ETMONEY.
Notably, ETMONEY has introduced a number of Industry-first offerings over the last 18 months. This includes SmartDeposit with Instant Withdrawal, One-tap Portfolio Buys, Paperless KYC, SIP Registration without first installment and choice to skip SIP Installments. The same has helped the company gain the largest market share of total new monthly SIPs amongst other online mutual fund platforms.
ETMONEY also lets existing investors save lakhs in agent commissions on their current mutual fund investments by instantly allowing them to shift to direct plans. This has also helped the users in converting over Rs. 500 crores worth of investments from regular into direct plans.
Nonetheless, ETMONEY has further expanded its offerings providing Instant Personal Loans through its app along with insurance products via ETInsure. With an aim to play a fundamental role in a contemporary Indian’s financial life, it has now grown its total transactions across all services to an annual figure of over Rs.2,100 Crores with an increment of 200% every six months.