Taking giant strides, Angel Broking registered 1.20 million gross client acquisition in Q1 FY2022, a growth of 247% year-on-year. In June 2021, the FinTech broker added a record 0.46 million gross clients, outpacing its previous best achieved in May 2021, thus expanding the client base to5.29 million as of 30th June 2021.
The client base grew by 145.4% over June 2020 and 28.4% over March 2021. The organization’s consistent growth results from its Artificial Intelligence (AI) and Machine Learning (ML)-based solutions.
Angel Broking also recorded 21.1% quarter-on-quarter growth in Average Daily Turnover (ADTO) to Rs 4.5 trillion in Q1 FY2022. The average client funding book also simultaneously increased by 26.5% sequentially to Rs 12.19 billion. Leveraging its robust technological infrastructure, Angel Broking processed 248.53 million trades in Q1 FY2022.
Angel Broking has ensured a superior and seamless client experience with a user-friendly interface, which has service availability across the broadest spectrum of digital channels, including mobile apps, web platforms, and specialized software suites. The FinTech platform also owes its stellar growth to the deeper inroads it made into Tier-2, Tier-3 and beyond markets. With its superior-tech infrastructure, it takes an average of 5 minutes for a client to come on board. The overall retail equity market share of the FinTech broker increased by 191 bps quarter-on-quarter to 22.7% in Q1 FY2022.
Speaking on the development, Mr. Prabhakar Tiwari, Chief Growth Officer, Angel Broking, said, “With our advanced IT infrastructure and technology-driven operations, we provide the platform for superior wealth creation to our clients. Our special emphasis on AI and ML is drawing more clients to join Angel Broking. With rising retail participation in India, we are optimistic about future growth and prepared to cater to our growing client base. We are grateful to all stakeholders, including Team Angel Broking, our partners, and, above all, our patrons, for this achievement.”
Mr. Narayan Gangadhar, Chief Executive Officer, Angel Broking, said, “We are on a mission to emerge as India’s largest, most trusted FinTech company. Hence, we aim to ensure maximum client satisfaction. At Angel Broking, we are focused on empowering people by curating an entire ensemble of technologically evolved, yet easy to use, services. We are catering to investors and traders of all proficiency levels.”
With its hi-tech solutions, Angel Broking is on the path to tap the robust market of Millennials and Gen Z, who want everything at the press of a button. Further, the FinTech broker’s success can be attributed to its extensive use of Artificial Intelligence (AI) and Machine Learning (ML) to augment client experience. The idea is to empower people by making technology an indispensable element of investments in India.