Business
Angel One records 60.7% YoY growth in its client base in Dec’22; expands to 12.51 million
The Fintech company’s Average Daily Turnover for Dec’22 was Rs 16.40 trillion, a significant 133.3% YoY growth
Mumbai, 06th January, 2023: Fintech company Angel One Limited (formerly known as Angel Broking Limited) recorded significant growth in December 2022, as its client base grew to 12.51 million, growth of 60.7% YoY, with a gross client acquisition of 0.33 million.
The company performed well across business parameters in December 2022. Its retail equity turnover market share expanded by 96 bps YoY to 21.8%. Similarly, the Overall Average Daily Turnover touched Rs 16.40 trillion, a significant 133.3% YoY growth. The number of orders increased to 86.23 million, a 33.5% YoY growth. The average client funding book stood at Rs 13.75 billion.
Speaking on the growth, Mr. Prabhakar Tiwari, Chief Growth Officer of Angel One Ltd., said, “With an increasing client base and market share, we have certainly ended 2022 on a high note. For the next year, we envision achieving new milestones and greater heights. The combination of marketing and technology focused strategies adopted at Angel One, are facilitating continuous business expansion.”
Commenting on the business performance, Mr. Narayan Gangadhar, Chief Executive Officer of Angel One Ltd., said, “Angel One’s tech-enabled growth strategy is bearing fruits for the business. We look forward to penetrating deeper into under penetrated markets and provide a larger population with friendly and easy to use investment solutions. Angel One will continue its efforts to enhance user experience and integrate new & advanced technologies, to broad base the Indian capital market.”
In December 2022, Angel One reclaimed its position of being the third largest broker in the country, in terms of active clients on NSE. In 2022, the Fintech company commenced the roll out of its Super App on its iOS & web platforms, which was progressively offered to a limited set of its Android clients in November 2022. The Super App is built on five key pillars- (S.T.A.R.S) – Simplicity, Transparency, Availability, Reliability, and Swiftness.
