Sachet-sized investments: First Rs 100 MF transaction takes place
Source: Business Standard
Mutual Funda(Photo: Shutterstock)
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“The launch forms part of Appreciate and ONDC Network’s broader strategy to democratise access to investment products across India, especially in regions underserved by traditional financial services,” said Appreciate in a press release.
“Appreciate is proud to partner with ONDC Network to have made the first mutual fund transaction happen on its protocol, a stepping stone for us towards enabling access of investment products across a wider geography in India,” said Subho Moulik, founder and chief executive officer (CEO) of the company.
Sachet-sized investments
Appreciate offers customers the option to make “sachet-sized investments” of small amounts, lowering the entry barrier for people.
ONDC was conceived to boost e-commerce in India and is now diversifying its services to include a full range of financial products. The mutual fund offering follows the successful launch of digital lending services in August 2024, which enabled paperless loans to be processed in just six minutes. Insurance offerings are expected to be added to the platform soon.
“This integration with Appreciate marks a significant leap in making financial services more accessible and inclusive through the ONDC Network. By enabling low-ticket mutual fund investments, we are not only diversifying the types of services offered on the network but also making strides towards deepening financial inclusion in India,” said T Koshy, managing director and CEO of ONDC.
Appreciate said it will add mutual funds to its finance solutions stack, making services available to other fintech, retail and marketplace businesses.
First Published: Oct 09 2024 | 2:19 PM IST
