Angel One’s Acquisition of Dstreet Finance Marks Expansion in Consumer Financial Services Offering
- ByStartupStory | November 2, 2023
Fintech broking platform Angel One announced its first-ever acquisition of a tech startup, as it acquired Bengaluru-based fintech startup Dstreet Finance. The Dstreet Finance team has joined Angel One to lead content, user engagement, and learning-related initiatives, signaling a strategic move towards expanding Angel One’s suite of consumer financial services.
Dinesh Thakkar, Chairman and Managing Director of Angel One, stated, “The integration of the Dstreet team is a strategic move towards enhancing our offerings for the next-generation clients and aligns with our vision of evolving into a comprehensive fintech company.”
This acquisition follows Angel One’s recent in-principle approval from the Securities and Exchange Board of India (SEBI) to sponsor a mutual fund, a significant development for both Angel One and its clients. Angel One plans to broaden its customer solutions to include asset management, wealth management, insurance, and lending products, in addition to mutual funds and SIPs. With a focus on consumer credit products, the company aims to provide a complete financial solution for its clients and establish itself as the go-to financial platform for all.
Founded by Dinesh Thakkar, Angel One has become India’s largest listed retail stockbroking business, boasting the highest number of NSE active clients. With a net profit of Rs 8.9 billion for FY23, the company claims to serve over 17 million clients.
Prateek Mehta, Chief Business Officer at Angel One, emphasized the alignment of the Dstreet team’s expertise with the company’s mission of delivering an outstanding product experience for GenZ users. He said, “The Dstreet team brings a proven track record in crafting highly engaging content experiences for digital-native audiences, which perfectly aligns with our mission of delivering a distinct and superior product experience for the GenZ user. We’re eager to explore the possibilities this collaboration holds for us.”
Dstreet Finance, founded by Suresh Bavisetti and Paarth Dhar, specializes in creating content and engaging learning experiences tailored for emerging stock market investors. Since its establishment in April 2021, the platform has served over one million users and secured investments from notable backers, including ICICI Securities, Expert Dojo, Archana Priyadarshini, and Mumbai Angels.
Exciting news! We’re now on WhatsApp Channels too. Subscribe today by clicking the link and stay updated with the latest insights in the startup ecosystem! Click here!
The founders of Dstreet Finance expressed their commitment to their mission of fostering engagement and learning experiences for newcomers in the world of stock market investments. They expressed their gratitude for the trust placed in them by Dinesh Thakkar and Prateek Mehta and their excitement to join the Angel One team.
Follow Startup Story
Related Posts
