Why stock broking is becoming popular amongst Paytm and other startups?
Stock broking was made available to a certain group of users by Paytm Money recently. Expanding their horizon beyond mutual funds, a Bengaluru based startup, Groww, started with stock broking a few weeks ago. A plethora of novice traders have begun to engage in these digital platforms during the ongoing pandemic, according to many insiders from the industry. This has rendered startups extremely interested in stock broking.
Trading is the very last stage of a consumer’s journey pertaining to finance. After savings, payments and investments, trading forms the last leg which works towards the expansion of finances. Startups try hard to be a part of the consumer’s financial journey and stock broking forms a major product line. Both Paytm and Groww followed this path of action. Paytm kicked off with payments, then banking and finally moved to money management by means of Paytm Money.
Similarly, Groww started out by selling mutual funds. Stock trading is the ideal next step for Groww to foray into.
Stock broking is emerging in popularity amongst the major players in the financial industry.