4 hrs ago
Paisabazaar Launches Mutual Funds With Daily SIP Option
Paisabazaar is a website where people can find financial products.
It has started offering mutual funds, which are a way to invest money.
The company already offered loans, cards, bonds and fixed deposits.
A new feature lets people invest small amounts every day instead of making one larger monthly payment.
Daily investments can start at Rs.10.
This may help people whose income changes from day to day or week to week.
The feature is aimed at self-employed people, shopkeepers, small business owners and gig workers.
Paisabazaar says it wants to help customers manage borrowing, saving and investing in one place.
Paisabazaar has launched mutual funds on its financial product marketplace.
The move expands the platform beyond credit into savings and investment products.
Its Daily SIP feature allows investments starting at Rs.10 per day.
The feature is designed for people with irregular incomes, including gig workers and small business owners.
Paisabazaar is an AMFI-registered mutual fund distributor with ARN 336712.
- Who
- Paisabazaar, including CEO Santosh Agarwal and Head of Mutual Funds Tushar Gupta.
- What
- Paisabazaar launched mutual funds and introduced a Daily SIP feature starting at Rs.10.
- Where
- Paisabazaar’s platform, from Gurugram, Haryana, India.
- When
- September 23.
- Why
- To expand beyond credit into savings and investments and make investing more accessible to people with varied income patterns.
Key facts
- Company
- Paisabazaar, part of listed PB Fintech
- New offering
- Mutual funds available through the Paisabazaar platform
- Daily SIP minimum
- Rs.10
- Target users
- People with irregular income, including self-employed individuals, small business owners, shopkeepers and gig workers
- Existing expansion
- Paisabazaar launched bonds and fixed deposits on its platform last year
- Registration
- AMFI-registered Mutual Fund Distributor, ARN 336712
- Reach
- More than 58 million consumers across 850 cities and towns in India
Quotes
Santosh Agarwal
CEO of Paisabazaar
“Credit will continue to be the core of Paisabazaar, but consumers’ financial needs go well beyond borrowing. With the launch of Mutual Funds, we are taking another step towards building a broader financial marketplace. By bringing together credit, savings, investments and everyday financial services, we will be more relevant to consumers across their financial lives while building a more sustainable business for the long term.”
theprint.in
“True financial inclusion happens when we design products and experiences around the realities of financial lives of the underserved. With Daily SIPs, we are trying to make investing more compatible with different income patterns. The objective is to make building an investment habit feel more accessible, particularly for consumers who may not have a conventional monthly salary.”
theprint.in
Sources
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