India\u2019s largest retail broker Zerodha will not join the likes of Cred, Groww and other promising startups who recently raised funds from investors. Zerodha\u2019s founder Nithin Kamath took to Twitter to explain why his company is not looking to rope in investors even though funds have been lining up to invest. \u201cRight now, is probably the stupidest time for fintech firms like Zerodha to be raising money. It is quite crazy the number of folks reaching out & the different deals,\u201d Nithin Kamath said.<\/p>\n\n\n\n
Zero debt, no marketing spends<\/strong><\/p>\n\n\n\n Zerodha currently has over 32 lakh customers, beating traditional stockbrokers such as ICICI Securities, HDFC Securities and even new age brokerage firms such as Angel Broking. Kamath said that Zerodha does not need the money and will not raise funds \u201cjust because someone is ready to give it to you\u201d. \u201cWe are profitable, have zero debt. And we don\u2019t spend on marketing and advertising which is probably the single biggest reason for folks raising money,\u201d he added.<\/p>\n\n\n\n