Connect with us

Business

Angel One achieved 108.7% YoY growth in its client base at 10.10 million in May 2022

Published

on

The Fintech company registered significant growth in the number of orders at 70.63 million, a 48.4% increase from last year

 

Mumbai, 6 June 2022: Fintech company Angel One Limited (formerly Angel Broking Limited) continues to record strong performance across business parameters in May 2022. The company achieved a significant milestone with its client base expanding to 10.10 million in May, a 108.7% YoY growth. The gross client acquisition for the month was 0.47 million, a 10.2% YoY growth, indicating continued growth momentum.

The Fintech company processed 70.63 million orders, a 48.4% YoY growth, in May 2022. The company also registered impressive numbers in other areas, as its overall Average Daily Turnover (ADTO) grew by 88.2% YoY to Rs 8.94 trillion in May 2022. Angel One’s average client funding book surged by 60.4% YoY to Rs 18.84 billion.

Commenting on the growth numbers, Mr. Prabhakar Tiwari, Chief Growth Officer, Angel One Ltd, said, “Our goal is to make investment solutions accessible to as many people as possible. The journey to 10 million clients, a feat achieved by only a few in the industry, has been extremely exciting. Angel One has always aimed to provide its clients with the best-in-class products and services that lead to solid wealth creation. We are glad that we are making investments simplified for so many individuals in the country.”

Mr. Narayan Gangadhar, Chief Executive Officer, Angel One Ltd, said, “We are growing across business parameters, and it has been possible only because of our technologically advanced products. I feel extremely happy for the trust our clients have put in us, as we partner with them in their wealth creation journey. Going forward, we are look to serve an expansive client base as we set ourselves to claim market leadership. Our endeavour is to constantly improve and provide the most beneficial solutions to our clients.”

Angel One is democratizing the capital market by making it accessible to people across India, even in tier 2, 3 cities & beyond. To further simplify investment, the company recently launched its Super App for limited users. The Angel One Super App is a powerful web and mobile platform built on the principles of simplicity, reliability, availability, swiftness and transparency.