India’s PhonePe is entering stock and mutual fund investing, the latest in a series of expansions with the Walmart-backed payments app as it looks to leverage its user base of more than 450 million to win in new categories.
The Bengaluru-headquartered startup, which raised $850 million in recent quarters, It launched an app called Share.Market on Wednesday that lets youUsers can open their own trading accounts and invest in stocks, mutual funds, and ETFs.
Stock brokerage is the latest offering from PhonePe, which has also recently expanded into e-commerce with an app called Pincode. The company is also looking to launch an app store, TechCrunch previously reported.
More to track.