Want all mutual fund services on single online platform? This startup has just become the first such one-stop-shop
On Wednesday, the company announced that it is now the first & only online platform to have mutual fund schemes from all 40 Asset Management Companies (AMCs) in India.
This online platform is expanding into ever newer areas and is not just limiting itself to sending and receiving money. We are talking, of course, about Paytm. In fact, it has just added a new feather in its cap. This startup has now become the first and only online platform to provide all kind of mutual fund services. One97 Communications Limited owns & operates Paytm. On Wednesday, the company announced that, it is now the first & only online platform to have mutual fund schemes from all 40 Asset Management Companies (AMCs) in India on its platform.
Pravin Jadhav, Whole Time Director at Paytm Money commented, “Our goal has always been to make investments accessible to millions of Indians and connect them with the best Fund Managers in India. Our in-house technology platform is now integrated with all AMCs & RTAs in India and our transaction processing success rates are the best in the industry.”
Here's how Paytm is swaying mutual fund market!
Paytm Money was launched in late 2018 with 25 AMCs, over the past few months the company has gradually integrated with all retail investor focussed AMCs in India and now has achieved the unique status of being the only online platform that offers investing in all 40 AMCs, the latest additions being Franklin Templeton Mutual Fund & ITI Mutual Fund.
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The company has built its in-house technology platform from scratch by directly integrating with AMCs and all the 4 RTAs for offering seamless Mutual Funds investment experience to its users.
Within a few months of launch, Paytm Money has over 1 Million Users making it the largest online platform for Mutual Fund investments in India.
Also, the company is fast innovating its offerings, with the introduction of investor friendly features such as, one-tap portfolio top up, advisory based portfolio as Investment Packs, Single Payment experience for SIPs, UPI based payments among many others, to make investing simple & seamless for all Indians.
Paytm Money is a SEBI registered Investment Adviser (IA) and also recently received approval to start Stock Broking services. The company aims to become a full-stack investment & wealth management services company and bring wealth creation opportunities to millions of Indians.