ETMONEY continues its rapid growth; crosses USD 3Bn of investments being managed on its platform
Nov 17, 2021
New Delhi [India], November 17 (ANI/NewsVoir): ETMONEY, one of India's fastest growing investments and wealth management platform, has crossed the milestone of 3 billion US dollars' (INR 22,500 Crores) of total mutual fund investments being managed on the platform.
The current value of investments made through ETMONEY has crossed $1Bn itself while another $2Bn of investments are being actively managed by its users via importing their verified portfolios on to the platform. Investments made through ETMONEY has grown from INR 832 Cr. in March 2019 to over INR 7,500 Cr. in Oct 2021, a 901% growth in 2.5 years. While the total investments being managed has witnessed an over 1100% growth in the same period.
ETMONEY has been a pioneer in the country's wealth-tech space and has launched a slew of industry-first innovations such as paperless video KYC for mutual fund investments, country's first Aadhar-based SIP payment feature and a Report card for every mutual fund scheme among others.
Guided by a series of investment educative initiatives, ETMONEY users have been able to maintain healthier investment portfolios with a much higher SIP contribution and retention. The quality of growth is also evident in average SIP of INR 2,300 of ETMONEY users, which is far better and is 53% higher than the average of top 5 online players. More than half of new users on ETMONEY are first-time investors who are choosing the no-commission, free transaction platform for its simplicity & reliability.
On achieving this milestone, ETMONEY Founder & CEO Mukesh P Kalra said, "We are proud that so many users across India have trusted ETMONEY with billions of dollars of their hard-earned money. Our relentless efforts towards simplifying wealth creation journeys of millennial Indians are helping us ride the massive wealth tech growth wave in India. This is just the beginning for us, we aim to set new benchmarks in the industry with our forthcoming line-up of innovative products that will solve the next set of challenges in wealth management in India."
ETMONEY is India's largest app for financial services that is simplifying the financial journey of new-age Indians. ETMONEY helps users take informed investment decisions by helping users invest in zero-commission direct mutual funds for free, protect their families with unique insurance solutions and use ETMONEY Credit Card to take instant loans at low-cost.
Growing at 350 per cent yearly, combined with multiple innovative solutions, in less than five years, ETMONEY has added 10 million users on its platform from more than 1,400 Indian cities. ETMONEY manages and tracks over INR 22,500 Crore worth of Mutual Fund investments.
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