Online brokerage Upstox announced on Wednesday that it would allow investors to invest in initial public offerings (IPOs) and open demat accounts through WhatsApp. In addition, the company aims to grow its customer base to 10 million by the end of fiscal 2022, from the current 7 million, Upstox said in a statement.

It increased its customer base by 1 million in October 2021 alone.

Upstox provides end-to-end support for IPO applications via WhatsApp, allowing customers to facilitate the account opening process, he said.

The highlight of the latest feature is that all investors, whether registered with Upstox or not, can now subscribe to any IPO without leaving the WhatsApp chat window at any time during the journey. the application. With this integration, Upstox aims to multiply by five the number of IPO applications. “In an effort to further strengthen our customer base in deep India and encourage more millennials to invest, we have integrated with WhatsApp, which is widely used by users across the country,” said Shrini Viswanath, co-founder of Upstox. He added that the integration would act as a catalyst for first-time investors and make investing an easy, accessible and effortless experience.

“With a huge increase in IPOs and investors rushing to invest in IPOs, we see this as an opportunity to encourage more investors to open an account and invest through Upstox,” he said. he adds.

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