Brokerage firm Zerodha looks to support more start-ups

Brokerage firm Zerodha is keen on hand-holding more start-ups in fintech space, particularly those focused on capital market solutions, through its Rainmatter incubator and fund.

Eight start-ups had been benefited so far as part of a strategy comprising mentoring as well as investing in them. Zerodha will be looking at more start-ups developing products for the capital market, according to Karthik Rangappa, Vice President-Educational Services.

Besides offering the services of its incubator, the firm invests anywhere between $300,000 and $500,000 in the start-ups, he replied to a query at a media interaction here on Tuesday. Zerodha, he added, was selective and would look at companies and products that could help penetrate the Indian market. The firm was “receptive to ideas that will help expand the market,” he said.

On the brokerage business, Mr.Rangappa said Zerodha was upbeat on the growth prospects, especially in the backdrop of the pace at which the user base had grown from around 2 lakh a year ago to 8 lakh. The company was adding about 55,000 customers every month in the last few months, he said, adding that Hyderabad was one of its fastest-growing markets.

In Telangana, the company has a customer base of 41,000, while in Andhra Pradesh the number is at 31,000. In Hyderabad alone, Zerodha has over 31,000 clients.