Paytm Money eyes 50 per cent market share in direct mutual fund segment

Digital investment platform Paytm Money expects its market share in direct mutual fund subscriptions to go up to 50 per cent in six months with a ‘Switch’ option that it plans to start in a fortnight, a top company official said.

Currently, its market share stands at around 40 per cent of total such subscriptions.

The company is planning to start ‘Paytm Switch’ option for mutual funds (MFs) in 10-15 days that will enable customers to switch from regular MF to direct MF, from banks, stock brokers, distributors and asset management companies to Paytm Money.

“Currently, we have 40 per cent of total direct mutual fund subscribed from our platform. With Paytm Switch, we expect it to go to 50 per cent in next 5-6 months,” Pravin Jadhav, whole-time director at Paytm Money said.