Enrich Money Revolutionizes Mutual Fund Investing with Rs. 10 SIPs
Enrich Money, a SEBI-registered platform, introduces India's first Rs. 10 mutual fund SIP via the ORCA App, powered by ONDC. This move aims to democratize mutual fund investing, especially among Tier-2/Tier-3 cities. The platform targets over a million new investors within a year, offering seamless, secure access across multiple AMCs.
In a groundbreaking move, Enrich Money has launched India's first Rs. 10 mutual fund SIP via its ORCA App, becoming the first distributor to do so. The initiative is backed by the Open Network for Digital Commerce (ONDC), aiming to broaden mutual fund investing's reach across the country.
Focused on Tier-2 and Tier-3 cities and first-time investors, Enrich Money's strategy seeks to reshape the mutual fund distribution landscape, ensuring cost-effective and transparent access in line with SEBI's regulations. The platform anticipates onboarding over one million new investors in the upcoming year.
With Rs. 10 SIPs, Enrich Money removes traditional entry barriers, providing digital onboarding through Aadhaar and PAN, facilitating wider participation. The ORCA platform currently offers 745 mutual fund schemes and plans to expand its asset lineup further, emphasizing accessibility and empowerment for retail investors.
(With inputs from agencies.)
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