Digital stockbroking platform Zerodha will soon be shifting to permanent work from home for close to 90 per cent of its employees. Speaking to Moneycontrol in an interview, Zerodha CEO Nithin Kamath said that while the company’s core team will continue to work on a hybrid model, and nearly 950 of its total 1,100 employees will work from home permanently. Zerodha moved its operations online after the closure of offices and workplaces during the COVID-19 pandemic.
Kamath had previously said that Zerodha will be setting up satellite offices in smaller towns of Karnataka to cater to its employees working from home. The first such satellite office was set up in Belagavi, Karnataka.
“Eighty-five to 90 per cent of our team is working from home and we will continue to do so. We have also set up an office in Belagavi. We have taken a call that we would do permanent work from home and people are enjoying living in their small towns. Belagavi has amazing talent and we have a large team working there. Folks are enjoying Belagavi as a city, are having maids and independent houses which they could never think of affording in Bengaluru.”
Talking about Zerodha’s choice of not opting for any external funding, Kamath said that he hated the ‘obligation’ that money brought to the table and that’s why the company has been debt-free with no external funding.
“You should raise money if it helps you grow faster, in some way, it helps you do something better,” he said while adding that Zerodha’s business model did not really need capital.
Founded by brothers Nikhil and Nithin Kamath in 2010, Zerodha is among the most valued startups in the country and one of the few profitable ones. The company achieved unicorn status in 2020 and the founder brothers still own a significant stake in it.
In just 12 years of its foundation, Zerodha today is among the largest stockbrokers in the country, leading the digital revolution in the stockbroking business. The company has a user base of 9 million users, accounting for more than 15 per cent of the country’s retail trading business.
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