Nithin Kamath is one of the self-made billionaires in India. He is the Founder & Chief Executive Officer (CEO) of a discount brokerage company, Zerodha, based in Bangalore, Karnataka, India.
He was also named in “Top 10 Businessmen to Watch Out for in 2016 in India“. Nithin has a net worth of $ 1.55 Billion.
Nithin began investing and trading in stocks at the age of 17. He learned trading from his father because his father invested in stocks, so he started that by managing his father’s Demat account.
At the start of trading, he started trading on penny stocks. Nithin began working on the call center on the night shift for earning and started saving an amount from that for day trading.
Nithin Kamath Founded Firm Zerodha
Nithin Kamath also worked for Reliance Money as a sub-broker in 2006. He found that many brokerage firms charge their clients differently for trade because they did not generate their actual profits.
So, Nithin came up with an idea about it and founded the first brokerage firm in India in 2010 with his brother Nikhil Kamath and named them Zerodha.
They started with a team of five members. They offer the lowest charge for trading and investing from every user.
Zerodha becomes the biggest stock-broker company in India. The tagline of the company is “The Free Trade Zone”.
The word Zerodha originates from two terms, “Zero” and “Rodha“. This latter term was derived from Sanskrit; its combination with zero gives the meaning “without barrier“.
The Kite App by Zerodha gives a very user-friendly platform for trading and investing in Equity, Derivatives, Currency, and F&O. Zerodha has more than 120 branch offices and corporate offices all over India.
Userbase and Services
Zerodha contributes 15% of the total trading volume to exchanges in India. zerodha has a 4+ million user base in which almost 3.4 million are active users.
The company provides various services to its users by introducing its Kite App, a trading platform. It functions as a central dashboard for the Zerodha account, provides coins to purchase direct mutual funds online to the Demat account user, and much more.
Zerodha also manages educational programs on the Varsity platform for beginners and emerging investors today. Zerodha is focusing on adding new traders and investors to its platform. Over the past few years, Zerodha has seen rapid growth in its user base.
In 2015, Nithin also founded a fintech startup company called “Rainmatter Climate“, which initiated funds and incubated innovative startups.
It has also invested in various startups to meet the growth objective of the Indian capital markets. Rainmatter Climate is working on financing startups and grassroots organizations working on climate change.
Conclusion
Nikhil Kamath is genuinely an inspiring role model for a fintech startup with his visionary idea of a zero-free model. They also faced fierce competition from brokerage firms such as RKSV Securities, Kotak Securities, HDFC Securities, Angel Broking, and so forth.
The successful startup is estimated at $ 3 Billion without capital or external financing. Zerodha’s future objective is to add more new investors to the Indian stock exchange with support from the platform.
Read More: Radhkrishna Damani: Journey of 4th Richest Man of India
1 Comment
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