Kunal Shah to take on Zerodha, Groww? Cred-owned Spenny applies for stock broking licence

Kunal Shah-led Cred, which offers payments, lending, insurance, and wealth management, is now looking to add stock broking to its suite, as part of its strategy to build a full financial services platform. Cred has applied for a stock broking license via its subsidiary Spenny, sources told Moneycontrol. The development comes almost a year after the fintech unicorn acquired the Y Combinator-backed micro-savings and investment platform for an undisclosed amount. With the latest move, Cred could be positioned to enter the aggressive and highly competitive stock broking space, dominated by players such as Zerodha, Groww, and Angel One. The company’s interest in the market stems from the significant revenue surge seen by stock broking platforms in recent years.

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