Groww's Strategic Acquisition of Fisdom

In a significant move that underscores its ambition to dominate the financial services sector, Groww, the investment platform, has signed a definitive agreement to acquire Fisdom, a wealth-tech startup, in an all-cash deal valued at approximately $150 million. This acquisition marks Groww's formal entry into the wealth management and offline advisory space, following its acquisition of Indiabulls Asset Management Company in May 2023.

About Fisdom

Founded in 2015 by Anand Dalmia and Subramanya SV, Fisdom offers a comprehensive suite of investment and advisory products, including mutual funds, stocks, bonds, and tax-filing solutions. With partnerships with over 15 national and regional banks and a presence across India, Fisdom has established itself as a key player in the wealth-tech space.

Financial Highlights

Fisdom reported a revenue of Rs 84 crore for the financial year ended March 2024, showcasing a 28% year-on-year growth. The company also achieved Ebitda profitability in the March quarter, with net losses narrowing by 19% to Rs 57.4 crore.

Groww's Growth Trajectory

Since its inception in 2016, Groww has rapidly expanded its offerings and client base, becoming India's largest stock broker by active clients in September 2023. With this acquisition, Groww aims to leverage Fisdom's distribution network and advisory stack to enhance its digital-first model, as it prepares for an anticipated public listing.