INDmoney Soonicorn

A single app to track and invest across mutual funds, Indian stocks, US stocks, ETFs, IPOs, bonds, FDs and bank/credit-card accounts.

SIP in direct mutual fund plans with zero commission, and switching from regular to direct plans.

Buy 10,000+ US stocks and global ETFs directly from India starting with just $1.

Users can review pre-filled return details and file income tax returns for free, including automatic US stock tax filing.

Original positioning was as a full-stack wealth-tech app targeted at the affluent and HNI segments.

Indian retail investors who want to invest directly in US stocks and global ETFs from as little as $1.

The app reports 10 million+ investors and 2 Cr+ downloads across its mutual fund, stocks and tracking products.

Primarily a self-service app experience, backed by a formal multi-level grievance redressal process (support desk, Complaint Redressal Officer, Appellate Officer) for complaints.

INDmoney is distributed as a mobile app on the Apple App Store and Google Play, rated 4.7 on iOS and 4.6 on Android.

Users can also access accounts and invest via www.indmoney.com.

Operates as a SEBI-registered stockbroker and depository participant executing trades in Indian stocks, US stocks, mutual funds, ETFs, IPOs, F&O and commodities.

Lets users link bank accounts, credit cards, SIPs, bonds, NPS, FDs, stocks and mutual funds to get a single view of assets and liabilities, and track net worth and family accounts.

Provides free income tax return filing with pre-filled return details, including automatic US stock tax filing.

SEBI-registered stock broker (INZ000305337) and CDSL depository participant license underpin the ability to legally broke and hold securities for customers.

Membership of NSE, BSE and MCX.

ISO/IEC 27001:2022 and PCI DSS certified, underpinning trust in handling financial data.

US brokerage account partner for INDmoney's US stocks product; regulated by SEC and FINRA in the US.

Second US brokerage partner alongside DriveWealth for executing and custodying US stock trades; regulated by SEC and FINRA.

INDstocks Private Limited (formerly INDmoney) is a SEBI registered stock broker & depository participant, and a member of NSE, BSE & MCX.

Operates as a Depository Participant under CDSL (DP ID: 12095500).

Income from distribution services (e.g. mutual fund distribution) accounted for 76% of INDmoney's operating revenue and increased 56% to Rs 53.6 crore in FY24.

Income from broking activities surged to Rs 10.7 crore in FY24 from Rs 10 lakh in FY23.

INDmoney charges 0.25% brokerage per trade on US stock investing, with zero account-opening, maintenance, platform and withdrawal fees.

Forex conversion charges of 0.5% to 1.2%, charged by the bank, apply on US stock transactions.

Employee benefits remained the largest cost driver, growing 11% to Rs 124.53 crore in FY24 from Rs 111.86 crore in FY23.

IT expenses stood at Rs 57.18 crore in FY24.

Marketing burn contributed Rs 33.80 crore in FY24.