PeepalCo’s investment app, Lemonn has acquired five lakh users in the first five months of the launch. Designed to simplify investing for first-time investors, Lemonn offers options to invest in mutual funds, direct stocks, IPOs, and trade in Futures and Options (F&O).
About 36% of the total users on the platform are first-time investors. About 68% of these investors are from tier 2 and 3 cities and 65% of the users are between the age group of 18-25 years. Ahmedabad, Jaipur, Bardhaman, Nadia and Murshidabad are among the top 10 cities for the platform.
“At Lemonn, our goal is to make investing simple and accessible for everyone. Reaching five lakh users in just five months is a strong indicator that we’re on the right path. We’ve designed our platform to empower young individuals to take advantage of the investing opportunities and secure their financial future,” said Ashish Singhal, Co-founder, Lemonn.
“As we move forward, we’ll continue to enhance the user experience while staying committed to our mission: making financial opportunities equal for all,” he added.
Devam Sardana, Business Head, Lemonn said, “We are thrilled and deeply grateful for the warm reception Lemonn has received, especially as a late entrant in such a competitive market. A substantial portion of our user base consists of first-time investors, presenting us with the opportunity to build long-term relationships. The trust our users have placed in us motivates and drives us to consistently deliver exceptional service.”
