A whopping 80% of its nearly 1 million new customers are under-30: Angel Broking
Hyderabad: Fintech company, Angel Broking has recorded five million clients with an accelerated monthly client in May. The company has on-boarded 0.43 million clients, which was over twice the monthly average compared to the last fiscal. Its client addition rate has consistently increased quarter after quarter, growing more than 14 times to 0.96 million in Q4 2021 from less than 0.10 million in Q1 2020. Angel Broking has further reached a record Average Daily Turnover (ADTO) of approximately Rs 4.8 trillion, which is nearly 19 times as compared to Rs 253 billion in Q1 2020.
Prabhakar Tiwari, Chief Growth Officer, Angel Broking said, "In the past couple of years, Angel Broking has industriously traveled through the path of digital transformation. It is great to see that our concerted efforts are generating the desired results. However, we believe that the journey has only begun. The retail participation in India is still slightly above four per cent. So, the kind of response that we are receiving is merely the tip of the iceberg."
This stellar growth is a result of the company's increased focus on leveraging artificial intelligence and machine learning for across-the-board processes. The fintech broker has ensured a superior and seamless client experience, thereby making deeper inroads into the tier 2, tier 3 markets and beyond.
