ZFunds Revolutionizes SIPs with UPI AutoPay: A Leap in Mutual Fund Accessibility

ZFunds, a Gurugram-based wealthtech firm, launches UPI AutoPay for SIPs, reshaping how mutual fund distributors manage investments. The new feature simplifies setup, requiring only a UPI PIN, and is embraced by 70% of partners. This innovation aligns with India's digital financial goals, enhancing the investment landscape.

ZFunds, a pioneer in India's wealthtech landscape based in Gurugram, announced the rollout of UPI AutoPay functionality for Systematic Investment Plans (SIPs), a move set to transform mutual fund management. This feature, adopted by 70% of ZFunds' partners, enables seamless SIP setup in just three seconds using a UPI PIN, eliminating traditional hurdles such as net banking and auto debits.

In February, ZFunds introduced this feature to address the cumbersome requirements of existing SIP setup methods, which often deterred users. Manish Kothari, co-founder and CEO, highlighted the stark statistics: approximately 40% of SIPs never commence due to approval complications. UPI AutoPay leverages a widely adopted payment system to expedite setup and mitigate dropouts.

This technological advancement aligns with India's goal to digitize its financial services sector. ZFunds' strategic move, backed by a Rs. 25 crore seed funding from Elevation Capital, underscores its commitment to simplifying mutual fund investments for a broader market, while providing an unmatched tech experience for mutual fund distributors.

(With inputs from agencies.)