Angel One's, Dstreet Finance marks expansion in offering of consumer financial services
By siliconindia | Thursday, 02 November 2023, 17:28 IST
Angel One, a fintech broking platform, has recently acquired Dstreet Finance, a fintech startup. This is Angel One's first-ever acquisition of a tech startup. By bringing the Dstreet Finance team on board, Angel One aims to expand its suite of consumer financial services and enhance its offerings for next-generation clients. The Dstreet Finance team will be responsible for leading content, user engagement, and learning-related initiatives at Angel One. According to Dinesh Thakkar, Chairman and Managing Director of Angel One, this strategic move aligns with their vision of evolving into a comprehensive fintech company.
Angel One recently received in-principle approval from the Securities and Exchange Board of India (SEBI) to sponsor a mutual fund, which is a significant development for both Angel One and its clients. In addition to mutual funds and SIPs, Angel One aims to offer a broader range of customer solutions, such as asset management, wealth management, insurance, and lending products. With a focus on consumer credit products, the company plans to provide a complete financial solution for its clients and establish itself as the preferred financial platform.
Angel One, India's largest listed retail stockbroking business, was founded by Dinesh Thakkar and boasts the highest number of NSE active clients. With a net profit of INR 8.9 billion for FY23, the company claims to serve over 17 million clients. Prateek Mehta, Chief Business Officer at Angel One, emphasized aligning the Dstreet team's expertise with the company's mission of delivering an outstanding product experience for GenZ users. He stated that the Dstreet team has a proven track record in crafting highly engaging content experiences for digital-native audiences, perfectly aligning with Angel One's goals. The company is eager to explore the possibilities that this collaboration holds.
Dstreet Finance is a platform founded by Suresh Bavisetti and Paarth Dhar that specializes in creating content and engaging learning experiences tailored for emerging stock market investors. Since its establishment in April 2021, the platform has served over one million users and secured investments from notable backers, including ICICI Securities, Expert Dojo, Archana Priyadarshini, and Mumbai Angels. The founders of Dstreet Finance are committed to their mission of fostering engagement and learning experiences for newcomers in the world of stock market investments. They expressed their gratitude for the trust placed in them by Dinesh Thakkar and Prateek Mehta and shared their excitement about joining the Angel One team.
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