Vakrangee ties up with Upstox to offer trading services through BharatEasy app

Vakrangee Digital Ventures Limited has tied up with Upstox, a platform of RKSV Securities India Pvt Ltd, to offer online trading account opening services through its BharatEasy mobile app. Vakrangee will also provide services from its physical network of Vakrangee Kendras.

Upstox offers online investments in stocks, derivatives, commodities, currencies, mutual funds, and ETFs for investors and traders. Vakrangee Digital is the 100 per cent subsidiary company of Vakrangee Limited, a technology company based in Mumbai that provides banking, insurance, e-governance, e-commerce, and logistics services. 

The tie-up is aimed at providing different financial solutions to the customers. "The collaboration will provide our partner with access to the huge client base and network that Vakrangee has, helping it tap the untapped market and diversify its base," the company said in a statement.

With this, BharatEasy app and the company's Kendras will now provide online trading account opening services in remote areas of the country. The BharatEasy app provides an array of products and services, which would significantly reduce people's requirement to switch between multiple apps, said the company.

Vakrangee MD and CEO Dinesh Nandwana said the partnership with Upstox will help to provide access to a wider range of investment and financial services to the company's customers in the remotest parts of the country. "We are extremely excited about our partnership with Upstox which gives us a big opportunity to bring value to our customers. This alliance will further boost our strategy of expanding the bouquet of services,” he said.

He said the company's franchisees in remote areas can now enhance revenue stream by offering online trading services too. "We will continue to add more products and services and tie-up with leading business partners to offer our customers a one-stop solution to all their banking, insurance, ATM, financial services, assisted e-commerce, e-governance and logistics," he said.

Vakrangee has 13,200 Vakrangee Kendras across 28 states & UTs, 560+ districts and 4,860+ postal codes. Over 70 per cent of these outlets are in Tier 5 and 6 towns. Vakrangee's target is to reach at least 25,000 Kendras by FY2022 and enhance it to 75,000 outlets by FY26.

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