Lemonn Reports Over 800% Revenue Growth as Retail Participation Accelerates Across India

Retail orders jump 9.08X, while active trader base expands 5.14X YoY; with nearly 80% of retail orders coming from Tier 2 & Tier 3 cities

India, July 29, 2026: Lemonn (Nu Investors Technologies Pvt. Ltd), a stock broking platform under the PeepalCo Group, reported strong year-on-year (YoY) growth across key business metrics in May 2026, reflecting increasing retail participation in India’s equity markets. Revenue from operations grew over 800% year-on-year to ₹8.97 crore in May 2026 from ₹99 lakh in the same month last year. During the period, retail order volumes increased 9.08X, rising from 3.05 lakh to 27.71 lakh orders, while the number of active retail traders grew 5.14X, from 4,722 to 24,309.

Devam Sardana, Business Head, Lemonn, said, “Our focus over the past year has been on building products that solve real investor needs, listening closely to customer feedback and continuously refining the investing experience. The strong growth we’ve seen is a reflection of that customer-first approach. Maintaining this structural discipline puts us on a very clear path to breaking even in the near term. Over the next two to three years, our priority is to continue deepening our product stack and refining platform stability to support this accelerating user acquisition.”

This rapid expansion has been witnessed across diverse geographies, highlighting the deepening penetration of retail investing beyond India’s largest cities. Investors from Tier 3 cities accounted for 42.8% of all retail orders on the platform in May 2026, followed by Tier 2 cities at 36.7%. Tier 1 cities contributed the remaining 20.5%, signalling the growing participation of investors from across the country.

Ashish Singhal, Co-Founder, Lemonn, said, “This growth shows a fundamental shift in how India invests. It is encouraging to see how digital investing is maturing and increasingly lowering the entry barrier for the next generation of investors.”

Since its launch in 2024, Lemonn has focused on expanding its market footprint by building an ecosystem that supports mutual funds, primary market IPO investments, and an advanced Futures & Options (F&O) suite for active traders. This continuous execution of user-centric features remains the key driver behind the platform’s accelerating user acquisition and market adoption across India.