Angel One Limited , a leading fintech company in India, has released its business metrics for July, revealing a mixed performance with significant growth in some areas and challenges in others.

Client Base and Funding Book Show Strong Growth

Angel One's client base reached 33.06 million in July, marking a robust 28.2% year-over-year increase and a 1.8% month-over-month growth. This expansion demonstrates the company's continued ability to attract and retain customers in a competitive market.

The average client funding book saw an impressive surge, reaching Rs. 50.79 billion. This represents a substantial 36.1% increase compared to the previous year and a 7.9% rise from the previous month, indicating growing client engagement and trust in the platform.

Decline in Gross Client Acquisition and Trading Activity

Despite the overall growth in the client base, Angel One faced a significant challenge in new client acquisition. The company reported a gross client acquisition of 0.64 million in July, a sharp 43.6% decline from 1.14 million in the same month of the previous year. However, it's worth noting that this figure shows a 17% improvement from the previous month.

Trading activity also saw a downturn, with total orders dropping 28.2% year-over-year to 123 million. The average daily orders decreased by 31.3% to 5.35 million compared to the same period last year.

Strong Performance in Mutual Fund SIPs and Market Share

On a positive note, Angel One demonstrated strength in the mutual fund segment. The company recorded 889,210 unique SIP (Systematic Investment Plan) registrations, representing a 16% year-over-year increase and a remarkable 20.8% month-over-month growth.

The company also expanded its market share across various segments:

Trading Volumes and Turnover

The average daily turnover (ADTO) based on notional turnover was Rs. 41,502 billion overall, showing a 4.6% year-over-year decline but an 18.6% month-over-month increase. The F&O segment ADTO decreased by 5.3% year-over-year to Rs. 40,501 billion.

Interestingly, the ADTO based on option premium turnover showed a 30% year-over-year increase to Rs. 1,115 billion overall, while the F&O segment in this category declined by 29.5% to Rs. 114 billion.

Management's Perspective

Angel One's management expressed satisfaction with the company's performance, stating, "We sustained strong momentum in client acquisition, record high average client funding book and expansion in market share, across segments in July. Additionally, we experienced robust SIP registrations. These trends underscore deepening client engagement with our platform, apart from highlighting the industry's long term growth potential."

Additional Corporate Updates

In a separate announcement, Angel One's Nomination and Remuneration Committee approved the grant of 3,291 Restrictive Stock Units (RSUs) to two eligible employees under the Angel Broking Employee Long Term Incentive Plan 2021. These RSUs will vest over a period of four years and are exercisable at Rs. 10 per share.

The company also scheduled an analyst and institutional investor meeting for August 7, indicating its commitment to maintaining transparent communication with stakeholders.

In conclusion, while Angel One faces challenges in new client acquisition and trading volumes, its growing client base, expanding market share, and strong performance in mutual fund SIPs demonstrate the company's resilience and adaptability in a dynamic financial market landscape.

Angel One , India's leading fintech platform, is set to make a significant foray into the life insurance sector through a joint venture with LivWell, backed by private equity firm Olympus Capital. The partnership aims to establish India's first fintech-partnered life insurance business, targeting the country's vast protection gap and growing base of digital-native consumers.

Key Highlights of the Joint Venture

• Capital Infusion: The proposed venture will see a total capital infusion of ₹400.00 crore, with Angel One contributing 26% (₹104.00 crore) and LivWell holding the majority 74% stake (₹296.00 crore).
• Digital-First Approach: The joint venture will focus on a digital-first architecture, leveraging technology-driven automation and personalization to make insurance more accessible and aligned with real-life needs.
• Addressing the Protection Gap: With India's protection gap exceeding 83%, especially among young earners aged 26-35, the venture aims to introduce simple, reliable, and protection-led offerings.
• Leadership: Former Prudential Asia regional CEO Wilf Blackburn is proposed to chair the venture, while Nikhil Verma, former Deputy CEO of Aviva Vietnam, is set to lead as CEO.

Strategic Rationale and Market Opportunity

Ambarish Kenghe, Group CEO at Angel One Limited, emphasized the strategic importance of this move: "This partnership deepens our offerings across the financial lifecycle—bringing us closer to delivering a seamless, end-to-end experience across savings, investing and protection."

The joint venture is well-positioned to capitalize on India's underinsured market. Despite growing financial awareness and digital penetration, a significant portion of the population lacks adequate life insurance coverage. The government's vision of 'Insurance for All by 2047' further underscores the growth potential in this sector.

Leveraging Technology and Trust

By combining Angel One's digital reach and market credibility with LivWell's expertise in protection-centric, digitally native models, the joint venture aims to disrupt the traditional insurance landscape. The focus will be on creating transparent, cost-efficient, and easily understandable insurance products.

Nikhil Verma, CEO of LivWell, highlighted the unique opportunity in India: "With Angel One's digital reach and market credibility, we see a strong alignment to build a next-generation digital-insurer that is relevant to today's customers, accessible and future-ready."

Implications for Angel One

For Angel One, this venture marks another milestone in its journey to become a full-stack financial services powerhouse. It complements the company's existing offerings in broking, advisory, margin funding, wealth management, and distribution of various financial products.

The move is expected to create new revenue streams for Angel One while strengthening its digital distribution network. It also aligns with the company's strategy of expanding its role across the entire financial lifecycle of its customers.

Market Response

Angel One's shares closed up 0.80% at ₹2,828.00 following the announcement. However, it's worth noting that the stock has seen a 6.30% decline year-to-date, reflecting broader market trends and regulatory changes in the financial services sector.

As Angel One and LivWell embark on this new venture, the Indian insurance landscape is poised for potential disruption. The success of this digital-first approach could set a new benchmark for how insurance products are designed, distributed, and consumed in the country's rapidly evolving fintech ecosystem.