India’s PhonePe is getting into stock and mutual fund investment, the latest in a series of expansion by Walmart-backed payments app as it looks to leverage its 450 million-plus user base to win in new categories.
The Bengaluru-headquartered startup, which has raised $850 million in recent quarters, launched an app called Share.Market on Wednesday that allows users to open their trading accounts and invest in stocks, mutual funds and ETFs.
Stock broking is the latest offering from PhonePe, which also recently expanded to e-commerce with an app called Pincode. The firm is also looking to launch an app store, previously reported.
More to follow.
