Groww enters into a definitive agreement to acquire wealthtech startup Fisdom in an all-cash deal, subject to regulatory approval, ET reports. As per the sources of ET, it has been priced at between $140 million and $160 million. Beyond this, the acquisition will help Groww venture into the wealth management space through a trusted and reliable partner. 

As per the information with the ET, Fisdom's founders and its team are expected to remain with the company, sources told ET. In FY24, the company reported revenue of ₹84 crore, a 28% increase over the previous year, while narrowing its net loss by 19% to ₹57.4 crore. It also achieved EBITDA profitability in the March quarter of FY24.

Groww’s Foray 

Groww’s acquisition of Fisdom marks its foray into the fast-growing and highly competitive wealth management space, which has been drawing strong investor interest amid the ongoing bull run in India’s stock market.

A somewhat similar trend can be witnessed, as in recent years, firms like Centricity, Dezerv, and Ioniq Wealth have secured equity funding to capitalize on this emerging opportunity.

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Groww’s Market Presence

Since its seed round in 2018, supported by CureFit founders and Y Combinator, Groww has steadily attracted top-tier investors across multiple funding rounds. These include Sequoia Capital India, Ribbit Capital, YC Continuity, and Propel Venture Partners, with notable participation from ICONIQ Growth, Tiger Global, Alkeon, Lone Pine Capital, and Steadfast.

The company raised $6.2 million in its Series A in 2019, followed by $21.4 million in Series B, $30 million in Series C, $83 million in Series D, and a landmark $251 million in Series E in October 2021 at a $3 billion valuation—solidifying its position as one of India’s most promising fintech startups. 

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Groww’s IPO

Groww’s growing influence in India’s fintech sector is underscored by its strategic moves ahead of a highly anticipated $700 million public listing. The company is preparing to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) through the confidential route by the end of this month. Simultaneously, Groww is in advanced talks to raise $250–300 million in a funding round led by Singapore’s sovereign wealth fund, GIC. 

In a significant development, GIC has sought approval from the Competition Commission of India (CCI) to acquire a 2.14% stake in Groww for \$150 million—a deal that would value the company at \$7 billion post-money. These developments, along with its recent acquisition of Fisdom, signal Groww’s accelerating momentum and expanding footprint in the country’s dynamic fintech landscape.