Coin — the direct mutual fund platform of the brokerage firm Zerodha — has facilitated over ₹1,500 crore worth of investments as of today.
Karthik Rangappa, Vice-President — Educational Services, Zerodha, said Coin, the direct MF plus equity platform, has enabled customers to buy mutual funds online directly from asset management companies without any payment of commission.
The MFs bought through Coin will be in demat form with the convenience of one portfolio across equity, mutual funds and currency. An investor can start, stop or modify SIPs any time they want and the first ₹25,000 worth of investments would be free, he said.
Zerodha became the second-largest brokerage house in new client additions and largest standalone direct MF platform, he said. “With our technology team taking the lead, we have many interesting products in the pipeline for launch in the next quarter,” he said. Zerodha currently has a user base of over nine lakh across the country, and has grown tremendously in the past one year, adding clients at a rate of 349 per cent in FY18-19.
To manage the growing needs of clients, it has set up 25 branches and 97 partner offices in the country.