AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
ZFunds, a Gurugram-based wealthtech company empowering Mutual Fund Distributors (MFDs) across India, today announced the launch of UPI AutoPay functionality for Systematic Investment Plans (SIPs) on its platform. ZFunds, the first platform to empower MFDs, lets customers set up SIPs in just three seconds with only a UPI PIN—no paperwork, debit card details, or net banking needed.
Introduced in February, the feature has been adopted by approximately 70% of ZFunds partners as their preferred method for client SIP setup. Currently available for monthly SIPs, the company plans to extend this functionality to daily SIP options in the future.
Traditional approaches using net banking and auto debits have seen limited adoption, as users usually struggle with requirements like debit card numbers, net banking login ID and password etc. which most people don't remember, leading to high dropout rates during the SIP mandate setup process.
“Our estimates suggest that only 60% of the one-time mandates receive approval, meaning about 40% of all SIPs never begin,” said Manish Kothari, co-founder and CEO of ZFunds. “With UPI AutoPay, we're leveraging India's most widely adopted payment system to solve a fundamental problem in the investment landscape. By reducing the SIP setup time to just three seconds and using a familiar authentication method everyone remembers, we're helping ensure that potential investments aren't lost at the first step.”
“I want to congratulate ZFunds for launching UPI mandate for SIP customers. Around 65% of all mutual fund folios are being serviced by mutual fund distributors and yet access to UPI autopay for setting up SIPs is not as widely available to them as one would think. This initiative gives MFDs a high-quality tech experience and unmatched convenience," said Deepak Jain, President and Head - Sales, Edelweiss Mutual Fund.
The integration of the autopay feature into the mutual fund ecosystem aligns with India's broader financial digitization goals. The new generation of Mutual Fund customers seek assistance over and above technology and they do not want to compromise on either. As the only platform offering this feature free of cost to MFDs, ZFunds is positioning financial advisors to capitalize on India's digital payment revolution.
The launch comes on the heels of ZFunds’ Rs. 25 crore seed funding round led by Elevation Capital in December 2024, signaling the company’s broader push to streamline mutual fund investing in India. The fresh capital is being deployed to enhance product capabilities, upgrade technology infrastructure, and expand access to investment solutions, reinforcing ZFunds’ efforts to simplify and improve the SIP experience for investors across the country.
The feature is now live on the ZFunds platform and available for investors nationwide.
Introduced in February, the feature has been adopted by approximately 70% of ZFunds partners as their preferred method for client SIP setup. Currently available for monthly SIPs, the company plans to extend this functionality to daily SIP options in the future.
Traditional approaches using net banking and auto debits have seen limited adoption, as users usually struggle with requirements like debit card numbers, net banking login ID and password etc. which most people don't remember, leading to high dropout rates during the SIP mandate setup process.
“Our estimates suggest that only 60% of the one-time mandates receive approval, meaning about 40% of all SIPs never begin,” said Manish Kothari, co-founder and CEO of ZFunds. “With UPI AutoPay, we're leveraging India's most widely adopted payment system to solve a fundamental problem in the investment landscape. By reducing the SIP setup time to just three seconds and using a familiar authentication method everyone remembers, we're helping ensure that potential investments aren't lost at the first step.”
“I want to congratulate ZFunds for launching UPI mandate for SIP customers. Around 65% of all mutual fund folios are being serviced by mutual fund distributors and yet access to UPI autopay for setting up SIPs is not as widely available to them as one would think. This initiative gives MFDs a high-quality tech experience and unmatched convenience," said Deepak Jain, President and Head - Sales, Edelweiss Mutual Fund.
The integration of the autopay feature into the mutual fund ecosystem aligns with India's broader financial digitization goals. The new generation of Mutual Fund customers seek assistance over and above technology and they do not want to compromise on either. As the only platform offering this feature free of cost to MFDs, ZFunds is positioning financial advisors to capitalize on India's digital payment revolution.
The launch comes on the heels of ZFunds’ Rs. 25 crore seed funding round led by Elevation Capital in December 2024, signaling the company’s broader push to streamline mutual fund investing in India. The fresh capital is being deployed to enhance product capabilities, upgrade technology infrastructure, and expand access to investment solutions, reinforcing ZFunds’ efforts to simplify and improve the SIP experience for investors across the country.
The feature is now live on the ZFunds platform and available for investors nationwide.
About ZFunds
ZFunds is on a mission to make mutual funds Sahi* (Right) and Asaan* (Easy) for India. The company was founded by Manish Kothari and Vidhi Tuteja in the year 2019. ZFunds firmly believes that the human-to-human model, with technology as an enabler, is the way forward for a large segment of “digital refusers” who need guidance and expertise to handle their finances. While digital channels have emerged as the go-to channel for the industry, transaction-only platforms are challenged to increase penetration in these markets. The advisor app launched by ZFunds in 2020 provides access to right savings and investment products to consumers PAN India. The company has over 10000 micro entrepreneurs advising 60000+ customers in 600 cities and towns.
ZFunds is on a mission to make mutual funds Sahi* (Right) and Asaan* (Easy) for India. The company was founded by Manish Kothari and Vidhi Tuteja in the year 2019. ZFunds firmly believes that the human-to-human model, with technology as an enabler, is the way forward for a large segment of “digital refusers” who need guidance and expertise to handle their finances. While digital channels have emerged as the go-to channel for the industry, transaction-only platforms are challenged to increase penetration in these markets. The advisor app launched by ZFunds in 2020 provides access to right savings and investment products to consumers PAN India. The company has over 10000 micro entrepreneurs advising 60000+ customers in 600 cities and towns.
