ETMONEY, one of India’s fastest growing investments and wealth management platform, has crossed the milestone of 3 billion US dollars’ (INR 22,500 Crores) of total mutual fund investments being managed on the platform. The current value of investments made through ETMONEY has crossed $1Bn itself while another $2Bn of investments are being actively managed by its users via importing their verified portfolios on to the platform. Investments made through ETMONEY has grown from INR 832 Cr in March 2019 to over INR 7,500 Cr in Oct 2021, a 901% growth in 2.5 years. While the total investments being managed has witnessed an over 1100% growth in the same period.
ETMONEY has been a pioneer in the country’s wealth-tech space and has launched a slew of industry-first innovations such as paperless video KYC for mutual fund investments, country’s first Aadhar-based SIP payment feature and a Report card for every mutual fund scheme among others.
Guided by a series of investment educative initiatives, ETMONEY users have been able to maintain healthier investment portfolios with a much higher SIP contribution and retention. The quality of growth is also evident in average SIP of INR 2,300 of ETMONEY users, which is far better and is 53% higher than the average of top 5 online players. More than half of new users on ETMONEY are first-time investors who are choosing the no-commission, free transaction platform for its simplicity & reliability.
On achieving this milestone, ETMONEY Founder & CEO Mukesh P Kalra said, “We are proud that so many users across India have trusted ETMONEY with billions of dollars of their hard-earned money. Our relentless efforts towards simplifying wealth creation journeys of millennial Indians are helping us ride the massive wealth tech growth wave in India. This is just the beginning for us, we aim to set new benchmarks in the industry with our forthcoming line-up of innovative products that will solve the next set of challenges in wealth management in India”