Mobile payments app PhonePe announced today that its subsidiary, PhonePe Wealth Broking, has launched an innovative stock broking app.
The app, known as Share.Market, is available as a mobile app or web platform and will enable retail investors and traders to purchase stocks, mutual funds, and ETFs.
The Bengaluru-based company will also offer WealthBaskets’ curated collections of stocks/investment products that align with specific themes, sectors, or market trends, and will facilitate intraday trades.
Share.Market CEO Ujjwal Jain, said: “We are delighted to launch Share.Market which further enables our vision of driving financial inclusion at a population scale.
“Our goal is to offer the benefits of discount broking while creating lasting value for our customers as they invest and trade.”
The app will embed real-time, value-rich insights into its products and will offer DIY tools that help investors make informed decisions. There is also a Markets section that enables users to track the stock market, indices, individual stocks, and sectors.
Thanks to PhonePe’s existing reach and distribution, the firm anticipates that Share.Market have great success in the organisation’s domestic market of India, due to its 480 million registered users, accounting for one in four adult Indians.
The launch comes as PhonePe is more than three-quarters of the way through its recent $1bn capital raise target.
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