Digital financial services firm Paytm Money on
Monday said that monthly investment volume in systematic investment plans (SIP) has risen by 143 per cent on its platform in 2019-20.
The company said that it has completed two years
of business and has been able to acquire 66 lakh customers to invest in various
financial services out of which 70 per cent users were the first time
investors.
"Over the last two years, we have enabled
new users from small cities and towns to invest with confidence by providing
innovative & personalized services. We strive to become the first step in
the investment journey so that every user benefits from technology and
financial inclusion," Paytm Money CEO Varun Sridhar said in a statement.
The company said it registered a 100 per cent
increase in monthly new SIP registrations on a year-on-year basis in 2019-20.
"In the last financial year, Paytm Money
registered over a 100 per cent increase in Monthly New SIP registrations and a
143 per cent increase in Total Monthly Investment volumes. It now clocks total investment of over Rs 20 crore
in mutual funds volume,"
the statement said. The parent firm of the company Paytm last week announced
that its revenue has increased to Rs 3,629 crore and losses have narrowed by 40
per cent.
The loss of Paytm in 2019-20 was Rs 2,597.46
crore while in 2018-19 the company had posted a loss of Rs 4,150.47 crore.
Paytm Money said that over 2.5 lakh users have registered for its stockbroking
service in less than a month of its launch.
"We strive to become the first step in the investment journey
so that every user benefits from technology and financial inclusion. With the
launch of our stockbroking platform, we plan to repeat the disruption we bought
to the mutual fund industry and in a few years be the number one equity
platform," Sridhar said.
Sandip Ginodia , CEO
ALTIUS INVESTECH PVT LTD
We deal in over 60 unlisted companies with 15 years of experience
For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .
Email : ginodiasandip1@gmail.com
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