Indore-based discount broking start-up TradingBells has embarked on an aggressive growth strategy. In line with this, the company is aiming to triple its customer base to 30,000 and augment average daily trading turnover by 10 times to Rs 420Cr [USD 60 million] in two years.
The start-up, which is already profitable, is also exploring a second round of funding of USD 10 million [Rs 70 Cr approx] to strengthen its technology, expand team, roll out more products and for marketing. The company had earlier raised a seed round of Rs 2 crore from leading Mumbai based stockbroker Swastika Investmart Ltd.
Founded in 2016 by IIT Delhi graduate and technology nd finance professional, Parth Nyati and chartered accountant and former investment banker, Amit Gupta, TradingBells aims to make trading easy, accessible and transparent for retail investors by leveraging cutting edge technology and automation.
TradingBells is India's first broking company to offer both discount broking and premium plans and services across equity, commodity and currency to Indian traders. This unique model of hybrid broking enables traders to easily and swiftly switch between the plans according to their needs. TradingBells also offers online mutual funds and insurance to its clients as value added services. With its proprietary trading software, a user-friendly mobile app and a robust back office & reporting system, TradingBells leverages technology to offer a seamless trading experience to its 10,000+ customers.
A customer-centric approach has enabled the company to offer e-KYC and automate its processes to make customer on-boarding and support an easy and effective experience respectively. Offering differentiated services in the highly competitive discount broking market, TradingBells provides zero brokerage on delivery-based transactions, and lower of Rs 20 or 0.01 per cent of the turnover per executed order for intraday and F & O transactions. It is among the few players to offer high leverage of up to 40 times on equity and up to ten fold on commodity trading. Additionally, all trading and other software are given free to customers, adding to the rich experience.
"We have witnessed robust growth since our inception and are already profitable. As we continue our upward trajectory to triple our customer base to 30,000 in the next two years and make trading more accessible and transparent for customers, we are looking at raising a second round of funding of USD 10 million to fuel this aggressive growth", said Amit Gupta, Co-founder and CEO, TradingBells.
"Our firm belief in the power of technology and automation has enabled us to create one of the most sophisticated proprietary trading platforms in the industry that truly empowers traders while delivering superior customer experience. Our rapid growth in the last two and half years bears testimony to our achievement. We aim to scale up rapidly going ahead and rank amongst top players in the industry," said Parth Nyati, Co-founder and COO, TradingBells.
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