Indian online financial marketplace, Paisabazaar.com has launched a mutual funds platform, further expanding its investment portfolio that already includes Savings Accounts services.
This platform has been on beta phase since the past three months and is now fully operational, providing access to real time information and impartial advice to consumers. Paisabazaar.com has tied up with most of the leading fund houses to provide the widest of choices for its users. It also plans to further strengthen the investment product portfolio by launching fixed deposits in the coming weeks.
This development comes close on the heels of Paisabazaar.com strengthening its portfolio by venturing into car loans and savings product segment earlier this year; and is in sync with their vision of becoming one stop destination for lending and investment products. Through its mutual funds platform, Paisabazaar.com aims to capitalise on individual investors who seek smaller savings of up to 25 Lakhs, and expand the distribution reach into non-metro and tier-3 towns. In fact, in the brief period that the site and mobile app has been live, the company has received tremendous response from customers from over 180 cities.
Naveen Kukreja, CEO and Co-founder,Paisabazaar.com, says: "Investments are integral to every individual's financial portfolio irrespective of their income and lifestyle; and mutual funds are one of the most effective way to build corpus, given that it offers the flexibility to make lump sum investment or pay in smaller amount through SIPs. Our platform aims to simplify the process of investing in mutual fund by minimising paperwork and documentation procedures, thereby promoting mutual funds investment amongst investors.