Zerodha currently has over 32 lakh customers, beating traditional stockbrokers as well as new-age brokerage firms.
Zerodha is the leading player in Indias stock brokerage industry by the number of active clients. (Image: Zerodha)
Indias largest retail broker Zerodha will not join the likes of Cred, Groww and other promising startups who recently raised funds from investors. Zerodhas founder Nithin Kamath took to Twitter to explain why his company is not looking to rope in investors even though funds have been lining up to invest. Right now, is probably the stupidest time for fintech firms like Zerodha to be raising money. It is quite crazy the number of folks reaching out & the different deals, Nithin Kamath said.
Zero debt, no marketing spends
Zerodha currently has over 32 lakh customers, beating traditional stockbrokers such as ICICI Securities, HDFC Securities and even new age brokerage firms such as Angel Broking. Kamath said that Zerodha does not need the money and will not raise funds just because someone is ready to give it to you. We are profitable, have zero debt. And we dont spend on marketing and advertising which is probably the single biggest reason for folks raising money, he added.
Right now, is probably the stupidest time for fintech firms like @zerodhaonline to be raising money. It is quite crazy the number of folks reaching out & the different deals. We might regret it in the future, but we are not raising & here are the counterintuitive reasons why. 1/7