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5Paisa eyes for 10Mn app users in 2021, launches new app version in 8 Indian languages

In a bid to achieve 10 million app users in this calendar year, India-based listed discount broker, 5Paisa has announced the launch of its new version of the Android app in 8 Indian languages.

Rated as the highest stock market app in India, and currently used by over 7 million users across the country. The new version of the 5Paisa android app is now available in English, Hindi, Marathi, Gujarati, Telugu, Tamil, Kannada, and Bengali languages.

In a statement issued, 5Paisa said, “Over 84% of 5paisa.com‘s customers are the first-time investors and 83% come from Tier-2 and Tier -3 cities. The company has seen a 230% growth in customer base under the age of 25 in FY21. 5paisa app aims to cross 10 million users of the app by the end of the 2021 calendar year.”

Fundraiser Campaign

Speaking on the development, Mr. Prakarsh Gagdani, CEO, 5paisa.com said, “We have released the new features in multiple languages based on our multilingual young first-time investors-customer profile. We aim to have the best retention rate in the industry by assuring maximum customer satisfaction. Features like the addition of new languages and making real-time pledge margin possible is just the beginning. There is a lot more in the pipeline for our customers, to help them have the best trading experience in the industry.”

“Among the new features, 5paisa.com now offers 20 market depths instead of 5 market depths earlier. It has also introduced dark mode which is quite in demand among the traders. Customers can now pledge their stocks real-time and convert BOD quantity (carry forwarded quantity) for positions, which was earlier possible only for the quantity bought today,” the statement added.

5paisa Capital recently raised ₹251 Crore from marquee investors including Ward Ferry, Fairfax, and RIMCO. With the requisite growth capital, the company is on track to be among the top three brokers in India.

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