*Paytm Money expands to Wealth & Investment Advisory marketplace to help retail investors build customized portfolios to democratize wealth creation*
- Partners with WealthDesk to offer investment portfolios called WealthBaskets as a first step towards building an advisory ecosystem
- WealthBaskets are theme-based stock & ETF Portfolios, created by SEBI registered investment professionals and backed by years of research; Investors hold WealthBaskets in their respective Demat accounts, making them highly transparent and liquid
- With an advisory marketplace, Paytm Money users get access to curated, and low-cost advisory services and products on Paytm Money App; Positions Paytm Money as a Super App for Wealth Management in India
India’s leading digital ecosystem for consumers and merchants (1), Paytm today announced that its wholly-owned subsidiary Paytm Money is expanding to create a wealth and investment advisory marketplace on its platform, to offer curated advisory services and products to retail investors. In a first step towards democratising wealth creation, Paytm Money has partnered with WealthDesk, an innovative investment startup to offer investment portfolios called WealthBaskets.
Available on Paytm Money app, a WealthBasket is a custom portfolio of stocks/ETFs created by SEBI Registered Investment Professionals, and is backed by years of research and backtesting. These portfolios are created around certain themes that users can relate to. For example, investors who believe in the long term prospects of promoting manufacturing in India can invest in the “Make in India” WealthBasket, which includes stocks that are well placed to benefit from this theme. Users will be able to invest in multiple Wealthbaskets via the free starter pack or by subscribing to premium monthly packs available. WealthBaskets offer high transparency, liquidity, and control, as investors hold the portfolio stocks/ETFs in their respective Demat accounts, and are very cost-effective with no variable charges associated with incremental investments.
With the expansion of the Advisory marketplace, investors will get everything they need to invest and grow their wealth in one app and will make Paytm Money a super app for Wealth Management in India. This is expected to have a major appeal for young and millennial investors, who constitute more than 70% of Paytm Money’s User base (Age under 35)
Paytm Money CEO, Varun Sridhar said, “We have seen a surge in investment activity by Gen-Z and millennial investors on our platform over the last 2-years. Paytm Money is building an advisory marketplace that will be a one-stop shop to cater to the unique needs of this audience. WealthDesk is our first major partner in this journey, and we are excited to offer WealthBaskets, curated investment portfolios created by subject matter experts. With this, Paytm Money offers retail investors an opportunity to invest in ideas, themes or trading strategies they believe in with low-cost wealth creation strategies, while also removing unnecessary risks.”
Ujjwal Jain, Founder & CEO of WealthDesk said, “Our partnership with Paytm Money aligns with our vision of democratizing wealth creation on top of broking through flat subscription fee-based WealthBaskets. This takes away the friction of percentage-based investment products and opens up premium yet low-cost wealth creation opportunities to every Indian. WealthBaskets are back-tested for 20 years for their performance. Analysts create these baskets after extensive research of the company fundamentals and market conditions. WealthDesk is continuing to expand its ecosystem with several such partnerships in the coming months. We are confident about building simplified and affordable wealth creation opportunities for millions of Indians”
WealthBaskets will be currently offered to a select set of users before a broader public release. Registrations are now open for early access on Paytm Money App.
Paytm is India’s leading digital ecosystem for consumers and merchants (1), and offers payment services, commerce and cloud services, and financial services to 333 million consumers and over 21 million merchants, as of March 31, 2021. Paytm is India’s largest payments platform (1) based on the number of consumers, number of merchants, number of consumer to merchant transactions and revenue, as of March 31, 2021, and with an FY21 GMV of ₹4,033 billion. Paytm is the largest payment gateway aggregator in India based on total transactions, with the widest ecosystem of payment instruments (1). The company’s lending business (offered in collaboration with financial institution partners), includes personal loans, merchant loans, as well as its Buy Now, Pay Later product Paytm Postpaid. Paytm’s financial institution partners disbursed 1.4 million loans in Q4FY21.
2016, WealthDesk is India’s pioneering B2B2C platform that captures the entire Investment/Asset Management/Advisory value chain from portfolio creation on top of Equities and ETFs, productizing these into investment products called WealthBaskets and then enabling large scale distribution through partners with strong network effects. WealthDesk is taking a platform play and through its partners, helping expand the investment product ecosystem beyond existing vehicles such as Mutual Funds and Portfolio Management Services which will drive the future of investing in India in capital markets. For more information, please visit: https://wealthdesk.in/"
“One97 Communications Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed the draft red herring prospectus dated July 15, 2021 (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, and the websites of the stock exchange(s) at ww.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP / Prospectus, when available. Potential investors should not rely on the DRHP for any investment decision.”
(1) Source: “The Digital Transformation of Payments and Financial Services in India” dated July 15, 2021, prepared by RedSeer.