The latest development has brought Angel Broking’s tally of Gross Clients Added in Q4 FY21 to 0.96 million, which is 14.1 times of what it was in Q1 FY20 or when it began its purely digital operations. The Average Daily Turn Over (ADTO) of Angel Broking has also experienced a 15-fold growth during the same period, and stood at INR 3.75 trillion in Q4 FY21. Simultaneously, the overall trades have increased to Q4 FY21’s 218 million from 54 million in Q1 FY20. Both ADTO and overall trades have multiplied across every segment including Cash, F&O, and Commodities.
This ultra-high growth is the result of Angel Broking’s digital-first approach, wherein it has acquired and serviced all of its clients digitally starting from 2019. Earlier in 2015, the now-digital-broker operated on a hybrid model as it developed several digital properties including E-KYC, D-KYC, digital advisory ‘ARQ’ (now ARQ Prime), and Angel BEE to name a few. It was also when it started penetrating deeper into tier-2 and tier-3 cities of India. In Q3 FY21, tier 2 and tier 3 cities together contributed to 92% of Gross Client Addition at Angel Broking. The client addition from tier 2 cities in Q3 FY21 increased by 6.7 times over Q1 FY20 while it was 9.3 times higher in case of tier 3 cities for the same period.
Speaking on the development, Mr. Prabhakar Tiwari, Chief Growth Officer, Angel Broking said, “Today, Angel Broking is on a mission to redefine the industry benchmarks with its digital-first approach. More millennials from tier-2 and tier-3 cities wish to augment their revenue streams by joining the stock market bandwagon. We have ensured that everything from their onboarding to trading and even training stays as seamless as possible. Our touch-of-a-button offerings have proven pivotal in this regard, thereby launching us on an ultra-growth trajectory.”
Mr. Vinay Agrawal, CEO, Angel Broking said, “Our latest milestone is the direct result of the hard work that every Angelite has put in over the past few years. Our digital transformation strategy has been a big hit amongst customers starting from day 1. Since then, we have consistently added to our suite of offerings. Now, what we are observing is the snowball effect, which is a combination of our marketing efforts and word-of-mouth publicity by our patrons. I would like to express my gratitude to all stakeholders for being there with us as we achieved this feat. I’m confident that we, together, are going to change the face of the broking industry in India in times to come.”
Given its strong focus on technology-savvy millennials and first-time investors, median age of clients acquired has steadily decreased to 30 years in Q3 FY21 from 34 years in Q1 FY20. A part of its success is attributed to the FinTech broker’s flat brokerage structure as well. Its delivery trades are free of cost and there is a flat fee of Rs. 20 per trade irrespective of lot size for F&O, commodity, and intra-day trades.
Today, the two+ decade-old broking company has more than 5 digital channels of client engagement, 150+ customer target segments, 60+ personalized offerings, 120+ advisory segments and over 6 Machine-Learning-driven processes for enhanced customer engagement. It takes a client less than 5 minutes to register and start trading.
Angel Broking has extensively used Artificial Intelligence and Machine Learning for its across-the-board operations to augment customer experience. It has further developed multiple customer-centric properties including Smart Money, ARQ Prime, SmartAPI, and Angel Amplifiers alongside others. Keeping all clients at the heart of its services, Angel Broking has also incorporated third-party tie-ups with several industry players including international investment platform ‘Vested’, smart investment platform ‘smallcase’, and strategic trading platform ‘Streak’. All of these third-party services are available to Angel Broking customers through the Angel Broking Mobile App.
It goes without saying that Angel Broking is today leading the future of smart investing in India. It is doing so with its startup mindset and a unique FinTech driven approach. To better serve its customers, the digital broker also has an entire suite of services including rule-based investment engine ARQ Prime, a knowledge house, and fun-learning-based investor education platform Smart Money. Smart Money caters to everyone from first-time investors to the ones having intermediate as well as advanced expertise.
With the strong momentum that it has built over the years, it can be said that the new-age digital broker has prepared itself well for the long haul. Several similar milestones could be just around the corner for Angel Broking.