PeepalCo, the parent company of cryptocurrency investment platform Coinswitch and stock broking platform Lemonn, has launched mutual fund investment service on the app to help new investors diversify their investments.
Users can invest in mutual funds directly and commission-free on Lemonn and start with as low as ₹100. They can also track their investments made on third-party apps using the Portfolio Import feature. The app offers schemes from over 40 fund houses, including major AMCs such as HDFC, SBI, and Axis.
“Our goal is to empower first-time investors to gain a deeper understanding of the investment landscape. Thus, introducing mutual funds on Lemonn is a natural step forward for us. The rapid growth of India’s mutual funds industry, outpacing countries like the US, Japan, and China, underscores a clear and growing demand. This demand can be further enhanced by offering simple, transparent and affordable products,” said Devam Sardana, Business Head, Lemonn.
Only a week earlier, the platform introduced futures and options (F&O) trading with zero trading brokerage for equity investors.
About Lemonn
Lemonn is an investment app, launched last month by PeepalCo, a house of brands building wealth tech products for India.
“The first target for us is to reach product market fit. Less than 6 per cent of India invests in stocks today and there is a big market out there,” Sardana said. “Tens of lakhs of users today enter the stock market every single month, and these are new investors. Also, many users are leaving the stock market as well because they are not able to sustain. That is what Lemonn is built for,” he added.
The platform will offer zero trading brokerage for the first three months and no fees for account opening. Subsequently, it will introduce a flat broking fee structure.
Lemonn currently supports equity investments, with plans to introduce investments in initial public offerings (IPOs). The platform also features analyst ratings for stocks and a glossary of financial and stock market terms for its target users.
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