Brokerage firm claims 8.5 lakh user base

| | Bhopal | in Ranchi

Zerodha, India’s leading technology-driven brokerage firm here on Wednesday announced its overall growth numbers for this financial year and shared details on its direct mutual fund platform– Coin.

Zerodha currently has a user base of over 8.5 lakhs across India, and has grown tremendously in the past one year, adding clients at a rate of 329% (FY 18-19).

Coin is India's first direct MF + Equity platform that let the customer buy mutual funds online, completely commission-free, directly from asset management companies. The mutual fund bought through Coin will be in demat form, with a convenience of one portfolio across equity, mutual fund, currency. One can start, stop or modify SIPs anytime they want and the first Rs. 25,000/- worth of investments would be free.

While talking to media persons on the development, Karthik Rangappa, VP, Educational Services, Zerodha, said, “The year 2017 was quite a year for us as a business.