On Monday, Paytm Money announced the increase of monthly investment amount in systematic investment plans (SIP) by 143% on the 2019-20 platform, alongside its two-year business completion and acquisition of 66 lakh customers in financial services investment, 70% being real-time investors.

Paytm Money CEO Varun Sridhar addressed in a statement, “Over the last two years, we have enabled new users from small cities and towns to invest with confidence by providing innovative & personalized services. We strive to become the first step in the investment journey so that every user benefits from technology and financial inclusion.” 

Paytm Money discussed its registration of a 100% increase in monthly new SIP registrations on a year-on-year basis in 2019-20.

The statement read that the company registered more than a 100% increased in Monthly New SIP registrations, along with 143% rise in the Total Monthly Investment volumes. Currently, it amounts to more than Rs 20 crore in mutual funds volume.

Paytm’s parent firm announced the previous week that its revenue has risen to Rs 3,629 crore and declines have narrowed by 40%. The loss of Paytm in 2019-20 was Rs 2,597.46 crore, followed by 2018-19 when the company had posted a loss of Rs 4,150.47 crore.

Paytm Money said that over 2.5 lakh users have registered for its stockbroking service in less than a month of its launch.

“We strive to become the first step in the investment journey so that every user benefits from technology and financial inclusion. With the launch of our stockbroking platform, we plan to repeat the disruption we bought to the mutual fund industry and in a few years be the number one equity platform,” Sridhar said.