PhonePe has entered the stock broking sector by introducing a new mobile app named ‘Share(dot)Market’ under its subsidiary, PhonePe Wealth Broking. According to a CNBC-TV18 report, this move signifies the completion of PhonePe’s financial services offerings. Sameer Nigam, the CEO and Co-Founder of PhonePe, stated that the app launch marks their expansion into the stock broking business.
The ‘Share(dot)Market’ app offers enhanced discount broking through market intelligence and quantitative research-based WealthBaskets, a scalable technological platform. The app will be accessible on mobile devices and through a dedicated web platform, enabling retail investors to purchase stocks, participate in intraday trading, buy curated WealthBaskets, and invest in mutual funds.
The ‘Share(dot)Market’ app offers enhanced discount broking through market intelligence and quantitative research-based WealthBaskets, a scalable technological platform. The app will be accessible on mobile devices and through a dedicated web platform, enabling retail investors to purchase stocks, participate in intraday trading, buy curated WealthBaskets, and invest in mutual funds.
PhonePe’s acquisition of wealthtech platforms WealthDesk and OpenQ in 2022, valued at a combined $70 million, played a role in this expansion. These acquisitions were in line with PhonePe’s strategy to extend its financial services beyond payment solutions. The ‘Share(dot)Market’ app offers a wide range of investment products, including intraday and delivery stocks, mutual funds, exchange-traded funds (ETFs), and WealthBaskets. WealthBaskets are expert-curated collections of investment products aligned with specific themes, sectors, or market trends, offering convenience and cost-effectiveness for building active equity portfolios.
The app also features a dedicated markets section for tracking stock market indices, stocks, and sectors through an intuitive watchlist tracker. PhonePe users can access the app using their PhonePe-linked mobile numbers, complete the KYC process, and activate their broking and demat accounts.
Earlier this year, global private equity firm General Atlantic invested an additional $100 million (₹820 crore) in PhonePe, the digital payments company owned by Walmart Inc. This investment maintained the same valuation as the previous transaction and further strengthened PhonePe’s position in India’s fintech landscape.
