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Zerodha, India’s leading technology-driven brokerage firm, today announced its overall growth numbers.
Zerodha has grown tremendously in the past one year, adding clients at a rate of 166 % (FY 16-17). Zerodha currently has a user base of over 2.42 lakh across India. Speaking more on the business development, Nithin Kamath, Founder & CEO, Zerodha, said, “The investor participation in India is still very shallow; around 5 million investors who have traded once a year and not more than 1 million Indians who have traded once a quarter; less than 0.01% of India’s population. We have been able to make in-roads though. To attract our first 90,000 clients, it took us five years, but with the launch of our zero brokerage offering on equity investments and continuously improving technology offerings we have been able to quickly increase our client base to over 240,000 in the last 12 months.”
To manage the growing needs of its clients, Zerodha currently has 22 branches, 70 partner offices and 5 support/call & trade offices in India.
In Karnataka, Zerodha has its headquarter in Bengaluru, with offices across Mysore, Belagavi, Hubli, Bidar, Kalaburagi and Mangaluru. It has grown at a rate of 98 % for FY 16-17 with a client base of over 43,000, with touchpoint of 4 branches, 1 trade/call center and 5 partner offices.
Zerodha also recently took a momentous step to nurture young minds with Rupee Tales – a set of 5 story books which attempts to familiarise children above 7 years to basic financial concepts. Zerodha has used storytelling with vibrant illustrations as a medium to convey these concepts.
Nithin further said, “Zerodha is committed to improving financial literacy in India. Our educational initiatives, such as Varsity and Trading Q&A are a testimony to this. We are taking this commitment further with Rupee Tales. It is our earnest attempt to creatively inculcate basic financial awareness among children. The concepts covered in Rupee Tales pertain to financial inclusion; pivotal to the cashless and paperless economy India is striving for. A large part of the ‘financial inclusion for all’ dream is dependent on how the younger generation adapts to it.”
Each book deals with a specific topic, peppered with lively characters, and vibrant illustrations. The concepts covered include
- Banking & Inflation,
- Insurance, and
- Stock Markets
Karthik Rangappa, author of Rupee Tales & VP- Educational Services, Zerodha, added, “The idea to write Rupee Tales came to me when my 7-year-old daughter kept asking me where I work and what I do. I realised it was not easy to explain what the stock market is or, for that matter, basic finance to Meera. During a casual chat at work, we realised there was no material available to familiarise kids to basic finance. Being India’s leading financial services firm, we somehow felt it was our responsibility to change this, and lo and behold, Rupee Tales was born”.
The stories were conceptualised in-house at Zerodha. The Rupee Tales box set can be ordered from rupeetales.com, is priced at INR 470/- only.
Zerodha, the pioneer of the discount broking model in India currently offers advanced trading platforms at no cost to investors. Zerodha also offers a mutual fund platform at zero cost.It has built up a loyal client base of over 2,40,000+ clients and contributes to over 5% of the turnover across various exchanges.www.zerodha.com