Angel One’s client base grows 71.5% YoY to 11.88 million in October’22
New Delhi, 7th November 2022: Fintech company Angel One Limited (formerly known as Angel Broking Limited) registered a 71.5% YoY increase in its client base to 11.88 million, with a gross client acquisition of 0.34 million in October’22. The company reported a solid business performance with 69.42 million orders, a 19.0% YoY rise.
Angel One’s Average Daily Turnover jumped to Rs 13.88 trillion, a 110.7% YoY increase. The company’s market share in overall retail equity turnover increased to 21.7%, a 97 bps YoY expansion, and the average client funding book was at Rs 15.75 billion in October’22.
Commenting on Angel One’s performance, Mr. Prabhakar Tiwari, Chief Growth Officer, Angel One Ltd, said, “Retail participation in equities continues to remain robust. More and more people are gaining a greater understanding of the benefits of investing in financial assets compared to conventional assets. Our strategy to engage young cohorts early on, especially from tier 2, 3 and beyond cities, empowers people in the otherwise neglected sections.”
Mr. Narayan Gangadhar, Chief Executive Officer of Angel One Ltd, said, “We have been consistent in our effort to acquire more clients from the underserved pockets of India. Our tech-backed strategy contributes significantly to opening up more Demat accounts in the country. Our goal is to remain in tune with our vision to provide more people with best-in-class investment solutions and contribute to the growth of the Indian capital market. Our digitally enhanced products are making it happen.”
Earlier this year, Angel One rolled out its Super App, based on the five key pillars – (S.T.A.R.S) – Simplicity, Transparency, Availability, Reliability, and Swiftness. The state-of-the-art products and services offered on the app provide a secure, effortless and personalised investment experience. The app is available to all users on web and iOS versions.