Updated April 3rd, 2024 at 12:43 IST

CoinSwitch founder Ashish Singhal launches stock broker Lemonn

PeepalCo shared that Lemonn will work towards making investing accessible for all as only a meagre 6% of Indians are currently engaged in stock market.

Reported by: Business Desk
Ashish Singhal, Co-founder, PeepalCo | Image:Lemonn
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PeepalCo launches Lemon: Fintech entrepreneurs Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari launched Lemonn, a stock investing app designed for novice investors, on Tuesday. Lemonn, the brainchild of PeepalCo, is designed to simplify stock investing and make it more approachable and comprehensible for those who are new in the market. 

In the announcement, PeepalCo shared that Lemon will work towards making investing accessible for all as only a meagre 6 per cent of Indians are currently engaged in stock market activities despite post-pandemic economic growth.

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Ashish Singhal, Co-Founder and Group CEO, PeepalCo group, said“Our mission is to Make Money Equal For All, to empower India with the right products to build wealth. Lemon will help users diversify their portfolio and participate in India's Growth Story.” 

“Millions of Indians find stock markets complicated even today. Despite the post-pandemic growth, only about 6 per cent of Indians invest in stock markets. We aim to bridge this gap, by making stock investing engaging, informative, and effortless,” he added.

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With Lemonn's user-centric design and intuitive interface, investors can explore investment opportunities, that also feature curated industry-based stock offerings. The app also includes educational resources, featuring a glossary that demystifies financial jargon and market terminology. 

According to the announcement, With Lemonn PeepalCo is planning to expand its operations into stock broking and will be housed as a separate business division with its own managing and operations teams. Devam Sardana will lead the team at Lemonn and assume the role of Business Head. 

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“Devam has actively worked towards the launch of Lemonn right from day one from when it was just an idea on paper to a reality now. I’m confident in his ability to make Lemonn a product loved by millions of investors,” said Singhal. 

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Published April 3rd, 2024 at 12:18 IST