Online stock broking company Zerodha has over 1.6 crore users on its platform, managing assets worth Rs 6 lakh crore, founder and chief executive Nithin Kamath said on Monday.
In a LinkedIn post, Kamath said the company reached this milestone without spending much on advertising.
“We may be the only B2C company to have reached this scale without ever advertising. In hindsight, not advertising has helped us stay true to our philosophy of not pushing people to trade, no spam, etc,” he said.
He also highlighted that almost 30% of these investors and traders came to the platform through referrals by other Zerodha customers.
“India is a very tough market to earn in, and even if we had advertised, we would have given up a lot of our profits to Google, Facebook/Meta, etc,” he stated.
This comes even as Zerodha, with 81.1 lakh users, lagged behind its main competitor Groww, which had 1.31 crore users, as of December 2024.
Zerodha also said in a recent blog post that its asset management subsidiary, Zerodha Fund House, crossed Rs 4,000 crore in assets under management (AUM). The AUM has grown more than eight times from Rs 521 crore in March 2024. Industry data show that the AUM of the entire industry stood at Rs 69.3 lakh crore as of December 2024.
