PhonePe dives into inventory and mutual fund area
India's PhonePe is entering into stock and mutual fund investment, the latest in a collection of expansion with the aid of Walmart-backed payments app because it looks to leverage its 450 million-plus user base to win in new classes. The Bengaluru-headquartered startup, which has raised $850 million in contemporary quarters , launched an app referred to as Share.Market on Wednesday which will allow clients to open their buying and selling accounts and invest in stocks, mutual dollars and ETFs. stock broking is the newest providing from PhonePe, which additionally these days accelerated to e-commerce with an app called Pincode . The company, valued at $12 billion, is additionally seeking to launch an app keep , TechCrunch prior to now suggested. With Share.Market, PhonePe is getting into a crowded market that's attempting to serve an audience of about 10 million to fifteen million, in line with most estimates. Zerodha, a bootstrapped startup, at present leads the inventory-brok...