Mutual fund aggregator apps have transformed the way Indians discover, compare and invest in mutual funds. These apps bring together schemes from multiple asset management companies, and they give investors a simple, mobile-first way to manage money. Growing retail participation, supportive regulations, and powerful data infrastructure now push these platforms into a new phase of innovation. The mutual fund industry is expanding at an extraordinary pace, and aggregator apps sit right at the center of this growth story.
1. Understanding Mutual Fund Aggregator Apps
Mutual fund aggregator apps allow users to invest across different AMCs, track portfolios across folios, run SIPs, and access advisory tools in a single interface. Different platforms operate under distinct business models:
- Execution-only platforms (EOPs) offer direct plan execution without advice.
- Distributors offer regular plans and earn commissions.
- Registered Investment Advisers (RIAs) provide advice for a fee and allow execution.
SEBI introduced an explicit framework for Execution-Only Platforms in January 2023. SEBI defined clear rules around eligibility, fees, cybersecurity measures, and grievance redressal. This framework gave investors clarity and built trust in digital transaction platforms. It also encouraged more fintech companies to enter the space with stronger compliance standards.
2. Market Size: Understanding the Opportunity
The exact size of the “aggregator app market” does not exist as a stand-alone number, but the size of India’s mutual fund industry gives a direct indication of the opportunity.
2.1 India’s Mutual Fund Industry Growth
The numbers show staggering growth:
- The mutual fund industry AUM grew from ₹13.24 trillion in October 2015 to ₹79.88 trillion in October 2025. The industry grew more than six times in ten years.
- Analysts recorded AUM of ₹61 lakh crore by June 30, 2024, up sharply from ₹8.25 lakh crore in 2014.
- ICRA Analytics reported that industry AUM crossed ₹70 trillion in March 2025, and the year-on-year growth rate touched 22.25%.
International research firms also show rapid expansion:
- TechSci Research valued India’s mutual fund market at USD 769.6 billion in 2024 and projected growth to USD 1.58 trillion by 2030 with a CAGR of 12.8%.
- Mordor Intelligence placed the 2025 valuation at USD 0.85 trillion and forecasted USD 1.17 trillion by 2030 with a CAGR of 6.6%.
Whichever estimate investors use, the conclusion stays the same: the market doubles or triples in size within a decade, and aggregator apps ride this growth wave.
2.2 Digital Adoption and App Penetration
Interest in mutual funds has surged online:
- Search volumes for mutual fund–related terms jumped 31.8% from FY24 to FY25.
- Platforms like Groww, Zerodha Coin, ET Money, Kuvera and others feature in almost every ranking of top mutual fund apps, because users now expect direct plans, goal tracking and data-rich dashboards as standard features.
Retail participation also shows remarkable momentum. India now records more than 22 crore mutual fund folios, and SIP flows hit new records every few months. A large portion of these transactions move through aggregator apps, which now serve as the primary investment gateway for millions of first-time investors.
3. Regulatory and Infrastructure Support
Two developments fuel the rapid growth of aggregator apps: the Account Aggregator (AA) framework and the Execution-Only Platform framework.
3.1 Account Aggregator Framework
The Account Aggregator model enables secure and consent-based data sharing across financial institutions. Regulators such as RBI and SEBI recognize this model.
The AA ecosystem supports data types such as:
- Mutual fund units
- SIP details
- Deposits
- Loans
- Insurance information
Aggregator apps use AA rails to give investors consolidated views of scattered portfolios. AA systems allow these apps to create complete financial profiles and build more intelligent recommendation engines. The user grants consent, and the AA system fetches verified financial data without exposing login credentials or breaking privacy.
3.2 Execution-Only Platform Framework
SEBI’s EOP framework sets rules that define how digital platforms can aggregate transactions in direct mutual fund plans. The framework mandates:
- Strict cybersecurity standards
- Transparent fee structures
- Strong investor grievance systems
- High uptime and operational reliability
This clarity encourages AMCs and investors to trust third-party aggregators, which strengthens the industry.
4. Latest Developments Shaping Aggregator Apps
Recent events highlight the importance of reliability, innovation and rapid communication:
- On 5 December 2025, a Cloudflare outage disrupted major investing platforms like Zerodha and Groww. Investors could not log in or execute orders during market hours. This outage showed how aggregator apps must invest heavily in redundancy, multi-cloud setups, and real-time incident alerts.
- On the same day, the RBI cut the repo rate by 25 basis points to 5.25%. Debt fund managers pointed out potential opportunities in dynamic bond and duration strategies. Aggregator apps needed to update insights instantly because millions of users rely on timely information.
- New fund launches, including JioBlackRock Mutual Fund’s arbitrage fund NFO in December 2025, expand investment choices for retail users. Aggregator apps must list, compare and explain these offerings quickly.
- New players like Abakkus Mutual Fund entered the market with flexi-cap products, proving that the asset management landscape continues to grow.
- Globally, Vanguard opened access to crypto ETFs and mutual funds, signaling that investors want diversified fund categories in one digital interface.
These developments show how fast the ecosystem evolves and how much responsibility aggregator apps carry.
5. Business Models Driving Aggregator Apps
Mutual fund aggregator apps now use multiple revenue streams:
- Commissions from regular plans
- Platform fees for direct plan execution where regulations allow
- Subscriptions for premium features such as advanced analytics, expert insights and tax tools
- B2B partnerships, where banks, wealth managers and fintechs use the platform’s infrastructure
- Cross-selling of complementary financial products—stocks, ETFs, bonds, insurance and loans
Platforms now focus on investor engagement throughout the financial journey instead of only executing transactions.
6. Future Scope of Mutual Fund Aggregator Apps
6.1 Shift Toward Full-Stack Wealth Management
Aggregator apps now integrate:
- Direct and regular mutual funds
- Stocks and ETFs
- Bonds and SGBs
- NPS
- Insurance products
Users want one app to handle all financial decisions. Aggregators move fast to meet this expectation.
6.2 AI-Driven Personalisation
AI and AA-enabled data allow apps to:
- Build real-time risk profiles
- Suggest fund baskets instead of generic recommendations
- Trigger alerts on asset allocation drift
- Automate tax-loss harvesting
- Recommend SIP step-ups based on cash flow patterns
Generative AI simplifies complex investment concepts through conversational explanations and real-time portfolio guidance.
6.3 Deep Expansion in Tier-2 and Tier-3 India
AUM tripled since 2020 and doubled over the past five years, and smaller cities now contribute a significant portion of new investors. Aggregator apps strengthen this momentum by offering:
- Regional language interfaces
- Voice-first journeys
- Assisted digital models through partners
6.4 Higher Standards in Security and Compliance
Major outages highlight that operational lapses damage investor trust immediately. Aggregator apps now invest aggressively in:
- Zero-trust security layers
- Real-time fraud analytics
- Multi-cloud redundancy
- Transparent incident reporting
6.5 Growth of B2B Ecosystems
Banks, wealth firms, RIAs and fintechs now integrate aggregator infrastructure instead of building their own. Companies like Perfect Finserv benefit from these partnerships and offer investors richer, technology-enabled advisory services.
7. Conclusion
Mutual fund aggregator apps stand at the center of India’s investing revolution. The industry AUM now approaches ₹80 trillion, and the market’s growth trajectory shows no sign of slowing. Strong regulations, rapid digital adoption, AI-driven personalisation and the Account Aggregator network give these platforms enormous potential. Over the next decade, they will evolve into full-stack, intelligent wealth management systems that guide millions of Indians through every stage of their financial journey.
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