PeepalCo’s investment app, Lemonn, has achieved a major milestone, surpassing 500,000 users within just five months of its launch. The platform, aimed at simplifying investment for newcomers, has captured the interest of 36% first-time investors, emphasizing its appeal to a younger audience with 65% of users aged 18-25.
Lemonn provides diverse investment options, including mutual funds, direct stocks, IPOs, and Futures and Options (F&O), and has made a notable impact in tier 2 and 3 cities. West Bengal stands out as a significant contributor, with Bardhaman, Nadia, and Murshidabad emerging as top cities driving growth, alongside Jaipur and Ahmedabad.
In Kolkata, the platform’s performance highlights its growing significance in the city’s financial landscape. As a key market, Kolkata’s strong adoption of Lemonn underscores its strategic role in expanding the app’s reach and influence in a competitive sector.Ashish Singhal, Co-founder of Lemonn, expressed confidence in the app’s trajectory, saying, “Reaching 500,000 users in such a short time reflects our dedication to making investing accessible. We aim to continuously enhance our service and foster long-term investor relationships.”
