India’s PhonePe Forays Into Stock Broking with Share(dot)Market Platform

PhonePe, an India-based digital payments and financial services firm, announced its entry into the stock broking industry with the launch of Share(dot)Market.

The new platform comes under its subsidiary, PhonePe Wealth Broking Pvt. Ltd.

Share(dot)Market aims to redefine discount broking by offering a suite of services, including market intelligence, quantitative research-based WealthBaskets, a robust technology platform, and an enhanced customer experience.

Available both as a mobile app and a web platform, Share(dot)Market enables retail investors to buy stocks, conduct intraday trades, and invest in mutual funds and WealthBaskets.

According to PhonePe, the Securities and Exchange Board of India’s (SEBI) recent initiatives such as simplified onboarding through Aadhaar/Video KYC and faster settlement times have contributed to a surge in retail investment in stock markets.

The company aims to capitalize on this momentum by delivering a seamless, data-driven investing experience.

“We are delighted to launch Share(dot)Market, which aligns with our vision of driving financial inclusion at a population scale,” said Ujjwal Jain, CEO of Share(dot)Market.

He highlighted the recent upswing in the percentage of savings invested in equities and anticipates that Share(dot)Market will further propel this growth.

The platform offers investment products, including stocks (intraday and delivery), mutual funds, exchange-traded funds (ETFs), and WealthBaskets.

These WealthBaskets are curated collections of stocks and investment products focused on specific themes or sectors, offering investors a convenient and cost-effective way to build active equity portfolios.

Share(dot)Market’s Chief Investment Officer, Sujit Modi, added that the platform aims to attract new demographics into stock trading. “With our user-friendly interface, we aim to reshape the way investors and traders engage with the stock market,” he said.

PhonePe, founded in December 2015, has become India’s largest payments app, boasting 480 million registered users and digitizing 36 million offline merchants. It also leads in the Bharat Bill Pay System (BBPS), processing over 45% of transactions on the platform.

Since venturing into financial services in 2017, PhonePe has introduced various mutual funds and insurance products. With Share(dot)Market, PhonePe aims to broaden its financial services portfolio while enabling millions of Indians to build wealth in a secure and informed manner.

Sponsored Links by DQ Promote



Send this to a friend