‘Robinhood of India’ co-founder reaches billionaire status

photo via Twitter

At 14, Nikhil Kamath dropped out of high school to play chess full time. Fast forward two decades and it’s checkmate: Kamath is India’s youngest new billionaire. 

Zerodha, dubbed the ‘Robinhood of India,’ encountered massive success during the coronavirus pandemic doubling its user numbers to 4 million. According to NBC Bay Area, Zerodha’s success has made its co-founders to billionaires. 

The company is now India’s largest trading brokerage, CNBC reports. Kamath co-founded the company with his older brother, Nithin Kamath, in 2010. 

“The pandemic has been good to us, which is a strange thing to say,” Kamath, the company’s co-founder and chief investment officer said. “People had a lot more time, people were at home and, unfortunately in many cases, they were in a position where an alternate income could have been very useful.”

The company’s name originates from the combination of the word “zero,’ and the Sanskirt term for barriers, “rodha.” According to CNBC, the brother’s goal was to build a ‘simple and affordable brokerage platform for everyday investors.’ 

“For a broker, we need our clients to do well,” Kamath said, NBC Bay Area reports. “But for us to truly grow as an organization, I think you need for the clients you have to make money over a large timeframe.”

Zerodha predates Robinhood, and with the growing trend of younger investors, Kamath said the company may be looking at an American expansion. 

“We would look at approaching their market at some point and seeing if there are ways in which our products can integrate with what is available in America,” he said, CNBC reports.

Still, the billionaire enjoys the occasional game of chess. 

“Chess teaches you how to work under a structure, in a system, but yet try and be creative within that system,” Kamath said. 

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