Groww, India’s largest brokerage firm, will acquire wealth management startup Fisdom in an all-cash deal valued at around $150 million.
The acquisition is set to close within 2-3 months, pending SEBI approval, just before Groww’s expected IPO filing via the confidential route.
Alongside this, Groww raised $150 million from Singapore-based GIC at a $7 billion post-money valuation, part of a larger $250-300 million pre-IPO round closing soon.
Founded in 2015 by Anand Dalmia and Subramanya SV, Fisdom offers investment and advisory products like mutual funds, stocks, bonds, PMS, and tax solutions.
It partners with over 15 banks including Punjab National Bank and Indian Bank, and operates 15+ offices in India. FY24 revenue was ₹84 crore, up 28% YoY, with net losses narrowing 19% to ₹57.4 crore and EBITDA profitability in Q4.
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This 100% acquisition expands Groww’s product offerings, marking its entry into wealth management and offline advisory. Groww, started in 2016 as a mutual fund platform, expanded to stocks, IPOs, and ETFs by 2020. It became India’s largest stockbroker by active clients in Sept 2023, with over 26% market share by April 2025.
Groww turned profitable in FY23 with ₹1,277 crore revenue and ₹449 crore net profit; FY24 revenue rose to ₹3,145 crore with ₹535 crore operating profit.
Following its 2023 Indiabulls AMC acquisition, Groww is strengthening its financial services ahead of IPO in a volatile market. Both companies declined to comment.
