Startup News

Paytm aims for over 10 million users by FY22

On Wednesday, Paytm Money announced it’s plan of targeting 10 million users and over 75 million transactions by FY22.

The wealth management arm of Paytm proffers services such as investments in mutual funds, stocks, initial public offerings.

These services further include digital gold, futures and options and exchange traded funds.

Moreover, it has recently clocked Rs.5,000 crore in direct mutual funds investments.

Paytm Money is expecting a surge of 150 percent in systematic investment plan registrations

Besides this, a 200 percent hike in monthly investment volumes over the next few months is also on cards.

However, it aims to facilitate wealth creation with investments in Initial Public Offers.

Further, it has made the process of IPO application completely digital and simple for retail investors across the country.

The company strives to bring in financial inclusion through educating the masses via initiatives such as Masterclass.

Over 2000 people attended these Masterclasses where experts taught the basics of trading and the significance of ETFs to investors.

Paytm Money will enable over 1 million Indians to trade and invest in capital markets through its education initiatives.

Currently, over 35% of investors are less than 25 years of age as per reports.

Meanwhile, 80% of investors are less than35 years of age whereas 90% are less than 40 years.

CEO of Paytm Money claimed that technology innovation and a stable product is a game changer that boosted it’s growth.

This has enabled everyone to gain access to direct mutual funds and gold.

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