Groww completes acquisition of Fisdom

Investment platform Groww has completed the acquisition of Bengaluru-based wealth tech startup Fisdom after receiving approval from the Securities and Exchange Board of India (SEBI).

With this acquisition, Groww aims to strengthen its presence in the wealth management space and expand beyond its core stockbroking business. The company is also seeking to reduce its dependence on market-linked trading revenues as it prepares for its public debut.

A Moneycontrol report said the deal, signed in May, was an all-cash transaction worth about $150 million.

Founded in 2015 by Anand Dalmia and Subramanya S.V, Fisdom provides wealth management services such as mutual funds, pensions, and insurance. The acquisition gives Fisdom the advantage of Groww’s large user base and strong brand recall in retail investing.

According to startup data intelligence platform TheKredible, Fisdom reported a 28% rise in revenue to Rs 84 crore in FY24, while posting a loss of around Rs 57.4 crore before the merger.

Groww, on the other hand, has seen strong financial growth ahead of its upcoming initial public offering. The company recently filed a revised draft red herring prospectus with SEBI to raise Rs 7,000 crore through the IPO, which includes a fresh issue of about Rs 1,020 crore and an offer for sale by existing investors. Prominent backers such as Peak XV, YC Holding, Ribbit Capital, Tiger Global, and the company’s co-founders are expected to offload shares as part of the offering.

In FY25, Groww reported a 50% surge in revenue to Rs 3,902 crore and posted a net profit of Rs 1,824 crore, compared with a loss of Rs 805 crore in FY24. In the first quarter of FY26, the company earned Rs 904 crore in revenue and Rs 378 crore in profit.

Groww did not comment on the story.

The development comes amid a challenging phase for brokerage platforms, which are grappling with new tax rules, reduced exchange incentives, and stricter regulations that have dampened overall trading activity. Zerodha founder Nithin Kamath recently highlighted that the firm’s brokerage revenue in June 2025 had fallen nearly 40% year-on-year due to these factors.