Groww Makes a Strategic Move into Wealth Management

BENGALURU: In a significant development, IPO-bound investment platform Groww has inked a deal to acquire wealth-tech startup Fisdom for approximately $150 million, according to sources familiar with the matter. "The deal is entirely cash-based and is expected to close after regulatory approvals," revealed one insider.

This acquisition signifies Groww's foray into the wealth management and offline advisory sectors, building on its previous acquisition of Indiabulls Asset Management in 2023 as part of its expansion strategy.

About Fisdom

Founded in 2015 by Anand Dalmia and Subramanya S V, Fisdom specializes in offering a range of investment and advisory products, including mutual funds, stocks, bonds, portfolio management services, and tax-filing solutions. The startup reported a revenue of Rs 84 crore in FY24, marking a 28% year-on-year increase, with net losses reducing by 19% to Rs 57.4 crore. Meanwhile, Groww achieved profitability in FY23.