Chennai-based fintech AssetPlus’ co-founder Vishranth Suresh has recently posted on LinkedIn about meeting Zerodha co-founder Nikhil Kamath and what the company intends to do in future.
Vishranth Suresh, an IIT Madras graduate, has also said Kamath is an investor in AssetPlus, offers digital-first solutions to financial advisors and mutual fund distributors.
“Thankful to have gotten the opportunity to meet one of the most respected entrepreneurs, Nithin Kamath, last week. He is also an investor in AssetPlus. Had a great discussion regarding the Mutual Fund industry and distribution ecosystem. It is abundantly clear that as the industry grows, there is a dearth of financial advisors/distributors,” wrote Suresh.
The company claims that the mobile app is trusted by over 1,50,000 users, and is used by distributors to process over Rs 1,200 crore worth of investments. On its website, the company said, “We provide comprehensive technology and MFD business solutions to our distributors to increase their digital brand presence and grow their Mutual Fund business online.”
“In this aspect, AssetPlus has built a strong platform to equip financial advisors and distributors to provide high quality service to their clientele and we are currently working with more than 3,000 MFDs. With AssetPlus adding more financial products and venturing deeper into Tier 2/3 markets to tie up with distributors, the next few years promise to be exciting! If you are in the same space and would like to collaborate, please feel free to reach out,” Suresh added.
“Currently, we have a little over 1,500 financial advisors and mutual fund distributors (MFDs) across the country using AssetPlus platform. Our aim is to take this number to 5,000 by the end of this fiscal and reach 10,000 by September 2023,” Suresh told Hindu BusinessLine earlier this year.
Zerodha has last year received in-principle approval to set up an asset management company (AMC) company.
In February 2020, the broking company had applied for the AMC licence.
