Paisabazaar.com, India's No.1 marketplace for loans and cards, announced today that assets under management (AUMs) garnered through its Mutual Funds product crossed the Rs. 1000 crore mark last month.
The organization says it is confident of reaching Rs. 1500 crore of AUM by March 2018.
Paisabazaar.com launched mutual funds on its platform in April, 2016 and has over 20 partners, which includes India's top AMCs, on board. Paisabazaar.com's Mutual Fund business provides investment solutions to retail consumers as well as specialized advise to HNIs and institutions.
Naveen Kukreja, CEO and Co-founder, Paisabazaar.com, said, "Paisabazaar.com has created a complete spectrum of financial products to cater to all personal finance needs of our customers. While we are the market leaders for lending products, our investment portfolio too has witnessed over 3X growth since launch. From an industry point of view, Mutual Funds AUM have grown by over 30 percent in the last one year and this reflects strongly in the rapid growth of our Mutual Fund product. Today, customers from over 650 cities and towns in India buy Mutual Funds from our platform."
Paisabazaar.com adds more than 4000 new Mutual Fund customers and over 6000 SIPs every month. The focus, Paisabazaar.com says, is on creating a seamless investment experience for consumers.
Manish Kothari, Director, Mutual Funds, Paisabazaar.com, said, "Our Mutual Fund customers benefit from cutting edge features and hassle-free digital processes. Along with varied fund choices from top AMCs, we also provide assistance from an expert investment team that assists you to create a customized portfolio according to your needs and profile. Customers may also transact and track their investments on the go on a real time basis through a personalized dashboard, which is also available on our mobile app."
Abhijit Shah, SVP and Head Marketing, Digital and Customer Experience, ICICI Prudential AMC, said, "Paisabazaar.com, in a short span, has established itself as agile, trustworthy and customer friendly online financial marketplace. It has emerged as one of our most valuable online partners. I'm confident that Paisabazaar.com is just getting started, and together, we will achieve several key milestones by delivering good customer experience.
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