ETMONEY said that it has crossed Rs.2,000 crores of money invested in mutual funds through its platform. The company said it is adding more than Rs.150 crores of new investment transaction value every month from investors across 1,200 cities.
This comes five months after ETMONEY switched to Direct Mutual funds, allowing users to invest through its platform at 0% commission. These benefits of providing users with low cost and transparent investment options from a single place has struck the right cord with users and ETMONEY has since then doubled the amount of investment done on its platform, with SIPs being the most prominent investment mode, said the company.
“India is leapfrogging in terms of financialisation of assets and ETMONEY is enabling it rapidly through mutual funds. We are aiming to grow to Rs.5,000 Crores of mutual fund transactions in the next 12-18 months.” said Mukesh P Kalra, Founder & CEO of ETMONEY.
Over the last 18 months, ETMONEY has introduced a slew of offerings like SmartDeposit with Instant Withdrawal, Paperless KYC, One-tap Portfolio Buys, SIP Registration without First Installment and Option to Skip SIP Installments.
ETMONEY has expanded its offerings providing Instant Personal Loans through its app along with Insurance products via ETInsure. This has helped to grow it's total transactions across all services to an annual figure of over Rs.2,100 Crores which is growing at 200% every six months, said the company.
ETMONEY is a part of Times Internet, the digital arm of Times of India Group.