Angel One, a prominent stock broking firm, has made a strategic move by acquiring the team of Bengaluru-based learning app, Dstreet Finance. This acquisition marks Angel One’s foray into tech startup acquisitions, aimed at enhancing its offerings and strengthening its position in the market, especially among younger investors.
Dstreet Finance, known for its expertise in content creation and engaging learning experiences tailored for emerging stock market enthusiasts, will play a pivotal role in leading Angel One’s content, user engagement, and learning-focused endeavors.
Angel One’s recent accomplishment includes receiving an in-principle approval from the Securities and Exchange Board of India (SEBI) to sponsor a mutual fund, showcasing the company’s commitment to expansion and innovation.
“We’ve acquired the team from Dstreet, which primarily caters to younger audiences. In the capital market journey, users go through stages like discovery, decision-making, transaction, and management, all while continuing to learn about managing their finances. The Dstreet team is well-equipped to create engagement solutions, content, and community offerings for these younger audiences,” stated Prateek Mehta, Chief Business Officer of Angel One.
Angel One, originally founded in 1996 as Angel Broking and rebranded in 2021, has evolved into a tech-driven company offering a wide range of services, including online stock broking, depository services, commodity trading, and investment advisory services. The company has experienced significant growth within its user base, with a particular focus on the under-25 demographic and residents of tier-II and III cities.
Given its thriving customer base, Angel One has actively sought avenues to deliver more value to its users. Their strategic approach includes exploring opportunities in multiple areas such as manufacturing and distribution platforms, wealth management solutions, content engagement, and learning. Acquisitions, such as the Dstreet Finance team, provide access to valuable talent and intellectual property.
Dstreet Finance, founded by Suresh Bavisetti and Paarth Dhar, has rapidly gained popularity for its content and learning offerings tailored for novice stock market investors, serving approximately 1 million users since its establishment in April 2021.
The exact scope of the acquisition’s impact is still evolving, but Angel One’s primary goal is to enhance customers’ comprehension of capital markets and improve their financial management comfort levels. This initiative aligns with Angel One’s growth strategy, as evidenced by its strong financial performance, with a consolidated profit of INR 305 crore for the quarter ending on September 30, 2023, and a 40.7% YoY increase in quarterly revenue to INR 1,048 crore.
