IIFL-backed 5paisa.com aims to add 50,000 customers next fiscal
5paisa.com , an IIFL-backed company and low-cost online discount broker, plans to acquire 50,000 customers in 2017-18, its CEO & Director Prakarsh Gagdani, has said. The company, which started its journey in April last year, has nearly 7,500 retail customers as on date and has evolved into low-cost financial services provider with added business segments of mutual funds and insurance distribution. “Most of the customers we have acquired are from the market and not IIFL customers. These are the customers who understand the benefits of discount broking and nearly 60 per cent of them have come from Tier-3 cities and beyond,” Gagdani said. IIFL had pumped in ₹100 crore into this venture, which is now in the process of getting demerged and listed separately (likely in June-July), he added. He also said that 5paisa.com will soon foray into funding (through an NBFC, which is part of IIFL Group) for IPOs, non-convertible debenture purchases, etc. Plans are also afoot ...