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Thursday, February 29, 2024

Angel One Ltd records 60.7 pc Y-o-Y growth

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Mumbai: Fintech company Angel One Limited (formerly known as Angel Broking Limited) recorded significant growth in December 2022, as its client base grew to 12.51 million, growth of 60.7% YoY, with a gross client acquisition of 0.33 million.

The company performed well across business parameters in December 2022. Its retail equity turnover market share expanded by 96 bps YoY to 21.8 per cent. Similarly, the Overall Average Daily Turnover touched Rs 16.40 trillion, a significant 133.3 per cent YoY growth. The number of orders increased to 86.23 million, a 33.5 per cent YoY growth. The average client funding book stood at Rs 13.75 billion.

Speaking on the growth, Mr. Prabhakar Tiwari, Chief Growth Officer of Angel One Ltd., said, “With an increasing client base and market share, we have certainly ended 2022 on a high note. For the next year, we envision achieving new milestones and greater heights. The combination of marketing and technology focused strategies adopted at Angel One, are facilitating continuous business expansion.”

Commenting on the business performance, Mr. Narayan Gangadhar, Chief Executive Officer of Angel One Ltd., said, “Angel One’s tech-enabled growth strategy is bearing fruits for the business. We look forward to penetrating deeper into under penetrated markets and provide a larger population with friendly and easy to use investment solutions. Angel One will continue its efforts to enhance user experience and integrate new & advanced technologies, to broad base the Indian capital market.”

In December 2022, Angel One reclaimed its position of being the third largest broker in the country, in terms of active clients on NSE. In 2022, the Fintech company commenced the roll out of its Super App on its iOS & web platforms, which was progressively offered to a limited set of its Android clients in November 2022. The Super App is built on five key pillars- (S.T.A.R.S) – Simplicity, Transparency, Availability, Reliability, and Swiftness.

Angel One Limited, (formerly known as Angel Broking Limited), (NSE: ANGELONE, BSE: 543235) 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, loans against shares 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 and Machine Learning to create a superior digital experience. The company has built a host of digital properties like Angel One Mobile App, Angel BEE 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 more than 12 million clients.

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