Angel Broking adds 450,000 customers in Aug on millennial-centric approach

Angel Broking on Thursday said it has onboarded 450,000 customers in August, taking the total base to 6.1 million

Angel Broking on Thursday said it has onboarded 4.5 lakh customers in August, taking the total base to 61.5 lakh, primarily due to the fintech platform's increased focus on leveraging artificial intelligence and machine learning.

In comparison, the company had added 1.8 lakh customers in August 2020, Angel Broking said in a statement.

In the first five months of financial year 2021-22, the fintech platform has added over 20 lakh customers, compared to 24 lakh clients added in the entire preceding fiscal.

The company attributed robust growth in client acquisition to its efforts to tap the underpenetrated markets in Tier 2 and Tier 3 and beyond cities with easily accessible digital solutions.

The increased participation is the outcome of the company providing GenZ and Millennials with digital solutions at the click of a button.

Leveraging Artificial Intelligence and Machine Learning, Angel Broking said it has provided its clients with solutions like ARQ Prime, enabling them to undertake rule-based trading.

"Our strategy to integrate futuristic technologies into our operations has worked well for our clients. We have strengthened our capabilities to serve our expanding client base and hope to serve as many people as possible," Prabhakar Tiwari, Chief Growth Officer, Angel Broking, said.

"By making the stock market accessible to Indians in Tier 2, Tier 3 and beyond cities with our technologically advanced digital properties, we are helping them realise their investment dreams and in their wealth creation journey," he added.

Narayan Gangadhar, Chief Executive Officer, Angel Broking, said the company's Artificial Intelligence and Machine Learning-based solutions have eased the investment for the tech-savvy investors.

The number of trades processed increased by 84.7 per cent year-on-year to 9.61 crore trades in August 2021.

Angel Broking has transformed into a fintech platform with 100 per cent direct clients being onboarded digitally. Recently, the company rebranded itself to Angel One, a one-stop solution for all financial needs, to draw the new-age investors.