Exclusive: Tata To Lock Horns With Groww, Zerodha In The Wealthtech Space Soon

Exclusive: Tata To Lock Horns With Groww, Zerodha In The Wealthtech Space Soon

SUMMARY

Tata Digital has been working on launching stock trading and mutual fund investments for the last one year and is likely to roll out the new offerings in the next two-three months

The development will pit the Tata Group against discount brokerages like Kamath brothers-owned Zerodha and Tiger Global-backed Groww

With its new offerings, Tata Digital is said to be all set to foray into the investech space that is expected to grow at a CAGR of 30% between 2022 to 2030 to reach a market size of $74 Bn

The digital arm of the Tata Group, Tata Digital, is gearing up to take on investment tech platforms Zerodha and Groww by launching stock trading and mutual fund investment offerings on its fledgling super app Tata Neu, sources told Inc42.Tata Digital has been working on launching these offerings for the last one year, the sources said, adding that the new offerings will be launched over the next two-three months under its financial services arm, Tata Fintech Private Ltd.Tata Neu’s current fintech offerings include cobranded credit cards (Tata Neucard), BNPL options (Tata Pay Later), digital gold investments, and personal loans offered in partnerships with various banks and NBFCs.Commenting on Tata Group’s investment tech foray, a stock broking research analyst said, “Tata Group is well placed to foray into wealthtech services as it already has a super app which offers other financial services. Besides, the group has strengthened its tech stack and already has NBFC Tata Capital and mutual fund Tata Digital India Fund. So, they are not new to financial services.”

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