Groww to Acquire Fisdom in USD 150 Million Deal Ahead of IPO Filing

​Groww, one of India's largest brokerage platforms by active users, is set to acquire wealth management startup Fisdom for USD 150 million in an all-cash transaction, according to a source familiar with the matter. The acquisition, which is subject to regulatory approval from the Securities and Exchange Board of India (SEBI), comes just weeks before Groww is expected to file its draft red herring prospectus through the confidential route.

The deal is expected to close within two to three months and marks Groww's second significant acquisition following its purchase of Indiabulls Asset Management Company in May 2023. The company is also in the final stages of closing a USD 250–300 million pre-IPO funding round, with USD 150 million already raised from Singapore-based investor GIC at a post-money valuation of USD 7 billion.

Founded in 2015, Fisdom provides services such as mutual fund investments, stock trading, bonds, portfolio management, and tax filing. The startup has over a million customers and operates through 15 offices across India. It is backed by investors including Prosus, Saama Capital, and Quona Capital. In FY24, Fisdom reported a revenue of INR 84 crore—up 28 per cent from the previous year—while reducing net losses by 19 per cent to INR 57.4 crore. The company reported EBITDA-level profitability in the March quarter of FY25.