Kolkata, IIFL Securities, one of the largest independent retail, institutional broking house and a leading investment advisory firm in the country has partnered with Stockal, India’s
largest global investment platform.
This partnership will help IIFL Securities’ customers to have access to 3500+ US-listed companies, invest in fractional stocks, and expert-curated Stacks & ETFs to suit the risk and industry preferences of the individual investors.
Millennials form more than 50% of Stockal’s customer base due to the high awareness of international companies and ease of trading online without any paperwork.
The tie-up between the two companies will help increase the number of millennials who are eager to invest in the US stock market. This strategic B2B partnership will offer both companies an edge to increase their reach and product offering for savvy investors.
Talking about the partnership, Vinay Bharathwaj, Co-CEO and Co-Founder of Stockal said, “The trust that investors have on IIFL will help global investments soar to the next level. This partnership will help the company offer global investment options to their existing and new customers, thereby ensuring long-term relationships. It will also enable thousands of young Indian investors to get exposure to opportunities offered by the global markets. Together with IIFL, we will help establish a seamless pathway for all investors country-wide.”
Speaking on this partnership, Sandeep Bhardwaj, CEO, IIFL Securities, said, “The new Indian retail investor, mostly comprising the millennials and Gen-Z-ers, are increasingly looking at diversifying their portfolio in global assets.
A general interest in investing in US stocks, especially fractional investing, has been witnessed ever since the Covid-19 pandemic led to domestic market uncertainties. Our partnership with Stockal will open up new avenues for our customers to invest seamlessly in global
markets.”
Nandakishore Purohit, Chief Digital Officer, IIFL Securities, added saying, “In the continuous endeavor to provide fully integrated digital investment solutions to our customers our global investment offering is powered by a robust open API platform. It provides a seamless onboarding experience to invest in US stocks and ETF’s to our customers in just a few clicks for the very first time in the industry. This will also help us provide a single view of the investment portfolio across asset classes and geographies to our customers in the future. This is just a stepping stone and we are committed to delivering embedded investment experience to our customers through our digital platforms”
Indian cross-border transactions have been growing manifold over the years especially after the onset of the pandemic. While a large chunk of these remains Gen X (45-55 years), Millennials and Gen Zs are expected to be a major share of the investor base in India by the year 2025.
(Agencies)
