Paytm Money Aims To Be India’s Top Wealth Manager

Paytm Money, the online platform for mutual fund investments that recently forayed into equity broking, aims to be India‘s top wealth manager as the owner of the nation’s largest e-wallet expands its financial services footprint.

“As we progress in this journey of becoming the preferred platform for users to save and invest, our goal is to provide a simple platform for users to do so,” Varun Sridhar, chief executive officer at digital investment unit of One97 Communications Pvt., told BloombergQuint in an interview. “With a few clicks you are able to save and make your money work harder.”

Paytm Money, which has 200-300 million customers doing 20-30 million transactions daily, aims to capitalise on its existing user base. “We see about 80%-odd users who are, what Id call, important or very loyal Paytm users, and about 20% come from outside the system.”