Delhi : India’s leading digital ecosystem for consumers and merchants, Paytm today announced that its wholly-owned subsidiary Paytm Money is expanding to create a wealth and investment advisory marketplace on its platform, to offer curated advisory services and products to retail investors. In a first step towards democratising wealth creation, Paytm Money has partnered with WealthDesk, an innovative investment startup to offer investment portfolios called WealthBaskets.
Available on Paytm Money app, a WealthBasket is a custom portfolio of stocks/ETFs created by SEBI Registered Investment Professionals, and is backed by years of research and backtesting.
With the expansion of the Advisory marketplace, investors will get everything they need to invest and grow their wealth in one app and will make Paytm Money a super app for Wealth Management in India. This is expected to have a major appeal for young and millennial investors, who constitute more than 70% of Paytm Money’s User base (Age under 35)
Paytm Money CEO, Varun Sridhar said, “We have seen a surge in investment activity by Gen-Z and millennial investors on our platform over the last 2-years. Paytm Money is building an advisory marketplace that will be a one-stop shop to cater to the unique needs of this audience. WealthDesk is our first major partner in this journey, and we are excited to offer WealthBaskets, curated investment portfolios created by subject matter experts. With this, Paytm Money offers retail investors an opportunity to invest in ideas, themes or trading strategies they believe in with low-cost wealth creation strategies, while also removing unnecessary risks.