Vakrangee Digital Ventures, a wholly-owned subsidiary of Vakrangee, made an alliance with Upstox (RKSV Securities India), an investment platform based out of India, to offer online trading account opening services through its BharatEasy Mobile app.
This tie-up will provide a range of financial solutions to the customers across the country. The collaboration will provide Vakrangee's partners access to a huge client base and network that it possess, helping it tap the untapped market and diversify its base. Vakrangee shall also provide the service from its physical network of Vakrangee Kendras.
Vakrangee, through its BharatEasy Super app and Nextgen Kendras, will now be able to provide online trading account opening services in remote areas of the country. By downloading Vakrangee's BharatEasy Super App mobile application, the customers would get access to a wide range of products and services which would significantly reduce their requirement to switch between multiple apps. This would lead to superior customer experience and convenience for the customer.
Upstox offers online investments in stocks, derivatives, commodities, currencies, mutual funds, and ETFs for investors and traders.
On a consolidated basis, the company reported a 100.9% jump in net profit to Rs 26.74 crore on a 195% rise in net sales to Rs 207.19 crore in Q2 FY22 over Q2 FY21.
Shares of Vakrangee declined 2.48% to end at Rs 37.30 on Friday, 17 December 2021. Vakrangee offer an extensive array of services across various sectors by providing BFSI, ATM, e-commerce & logistics services through its Vakrangee Kendras.
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