Navigating Change: Angel One's Transition from Legacy to Digital

It is hard to find the best people to manage your wealth when your savings are 1, 2 or 5 lakhs. A reliable super app like ours with diverse offerings acts as a one-stop space for this large younger cohort to enter the markets, writes PRATEEK MEHTA, Chief Business Officer, Angel One

- PRATEEK MEHTA

India is a country with a saving habit and the country’s average age is below 29. As a large number of young people enter the workforce, first time investors will enter the markets in big numbers. Today, around 49 per cent of new demat accounts opened in 9M FY24 on Angel One are by those below 25. At this stage, customers want techfirst solutions.

We are helping them save on a regular basis with SIPs, choosing the relevant products, saving taxes under 80(c) and then tracking their investments in one place.

The most important step of any investment journey is to ‘start’. We understand this - and our goal is to democratise investing for the next 100 million Indians. Only ~4 crore Indians have Mutual Fund folios as per AMFI, indicating vast untapped potential. There’s significant room for penetration, and we aim to drive this further. Among 4 million new SIPs in December last year, over 438,000 were opened by Angel One.