15 October 2024
Groww has added over 47 lakh new SIP accounts during the July-September quarter. Out of 66 lakh new SIPs recorded in September by AMFI, Groww added 16 lakh new SIPs, strengthening its market leadership, it said in a statement.
This growth was driven by younger investors, with over 50 per cent of contributors under the age of 35, demonstrating a strong inclination towards early and disciplined financial planning. Additionally, female participation stood at 24 per cent, exceeding the national average reported by AMFI, signalling a positive shift in financial engagement among women, the release added.
Harsh Jain, Co-founder and COO, Groww, said, “The rising participation of younger and female investors reflects financialisation of savings across India, as more people embrace the benefits of systematic, long-term investment. We have seen a large-scale adoption of UPI autopay, which has simplified the payment experience for investors.”
Groww has added over 47 lakh new SIP accounts during the July-September quarter. Out of 66 lakh new SIPs recorded in September by AMFI, Groww added 16 lakh new SIPs, strengthening its market leadership, it said in a statement.
This growth was driven by younger investors, with over 50 per cent of contributors under the age of 35, demonstrating a strong inclination towards early and disciplined financial planning. Additionally, female participation stood at 24 per cent, exceeding the national average reported by AMFI, signalling a positive shift in financial engagement among women, the release added.
Harsh Jain, Co-founder and COO, Groww, said, “The rising participation of younger and female investors reflects financialisation of savings across India, as more people embrace the benefits of systematic, long-term investment. We have seen a large-scale adoption of UPI autopay, which has simplified the payment experience for investors.”
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