Angel One client base expands to 15.65 million a 45.5 per cent YoY growth

Hyderabad: Fintech company Angel One Limited (formerly known as Angel Broking Limited) growth momentum continued as its client base expanded to 15.65 million, a 45.5 per cent YoY growth, with gross client acquisition of 0.61 million, a 78.4 per cent YoY rise, in July 2023. Being India's most trusted Fintech company, Angel One is dedicated to empowering a billion lives by leveraging the power of data and technology.

Angel One’s efforts to provide a seamless wealth-creation experience have led to its growth across business parameters. In July’23, there were 109.05 million orders, a 63.7 per cent YoY increase, equivalent to 5.19 million average daily orders. The company’s average client funding book stood at Rs 11.80 billion.

Angel One’s ongoing trend of remarkable expansion persisted as it documented significant growth in its Unique Mutual Fund SIPs at 200.27 thousand, an impressive increase of 1,568.9 per cent YoY. The company’s average daily turnover reached Rs 28,153 billion, a 173 per cent YoY growth, as its retail overall equity turnover market share expanded to 26.0 per cent, a 400 bps YoY expansion.

Dinesh Thakkar, Chairman and Managing Director of Angel One Ltd., said, "Our remarkable month-on-month growth is a testament to our effective incorporation of cutting-edge technologies into our operational framework. Over the years, we've evolved profoundly at Angel One, characterized by an unwavering commitment to innovation.”

Prabhakar Tiwari, Chief Growth Officer of Angel One Ltd., said, “Our unwavering commitment to delivering an improved trading and investment experience to clients nationwide is reflected in the steady growth across diverse business metrics. The effectiveness of our Super App reinforces our mission to simplify participation in the country's capital markets, encouraging clients from Tier 2, 3, and beyond cities to embark on their journey towards building wealth.”

Angel One Limited, (formerly known as Angel Broking Limited), is the largest listed retail stock broking house in India, in terms of active clients on NSE. Angel One is a technology-led financial services company providing broking and advisory services, margin funding and distribution of third-party financial products to its clients. The broking and allied services are offered through (i) online and digital platforms and (ii) network of Authorized Persons.

Angel One Ltd extensively uses Artificial Intelligence, Machine Learning and Data Science to create a superior digital experience. The company has built a host of digital properties like Angel One Mobile App, ‘ARQ Prime’ a rule-based recommendation engine, ‘SmartAPI’ a free-to-integrate API platform, ‘Smart Money’ an investor education platform, ‘SmartStore’ a marketplace for fintech products, learning platform and social forums for over 15 million clients.