Zerodha, one of the leading low-cost discount stockbrokers in India, has set a mammoth target to acquire a client base of 3 Million or 30 Lakh in the next 3 years.
In the recent 2019-2020, Zerodha has seen its client base growing by more than 200% and has a client base of around 29 Lakh. Out of this total client base, it has an active client base of over 70%.
As per the VP Research & Education Services (the one who designed and took care of Zerodha Varsity), Karthik Rangappa, Zerodha plans to ta1ke its client base to three million customers on board in the next three years or 2021.
To give you a perspective, the overall active client base across all 200+ stockbrokers in India is 7.6 Million.
One of the major driving forces for the company has been Zerodha Coin, a platform that allows clients to invest in mutual funds directly without paying any commission. This platform boasts of more than ₹6 Billion worth of assets under management.
The mutual fund bought through ‘Coin’ stays in demat form, with a convenience of one portfolio across equity, mutual fund, currency.
A client can choose to start, stop, pause and modify his or her SIP (Systematic Investment Plan) at any point in time. Furthermore, it allows you to invest your first ₹25,000 worth of mutual funds investments for free.
As far as growth is concerned, Zerodha has slowly been increasing its offline footprint. For instance,
Zerodha has 2 partner offices in Orissa and has a client base of 13,000 with a growth rate of 239%.
In total, Zerodha has 22 branches, 94 partner offices and 6 call centres across different parts of India.
In Bhubaneswar, the discount broker has over 3000 clients and has grown at a rate of 304 percent for 2017-18.
Finally, this is what Nithin Kamath, founder and chief executive officer, Zerodha has to say:
“The year 2017 was quite a year for us as a business. We became the largest retail broker in India by turnover on all the exchanges and segments, biggest in India by monthly new client additions and largest standalone direct mutual fund platform in Coin”.
You can check detailed review of Zerodha at A Digital Blogger
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