Groww completes acquisition of wealthtech platform Fisdom

Investment platform Groww has completed the acquisition of Bengaluru-based wealth management platform Fisdom after receiving approval from market regulator Securities and Exchange Board of India (Sebi).

The company had announced on May 18 that it had signed a definitive agreement to acquire Fisdom. With regulatory approvals now secured, the transaction is valued between $140 million and $160 million.

ET was the first to report on the deal on March 13.


The acquisition comes at a strategic time for Groww, as the company has filed for its initial public offering (IPO). Last month, Groww submitted its updated draft red herring prospectus (DRHP) to Sebi, aiming to raise approximately Rs 7,000 crore through the listing.

Founded in 2015 by Anand Dalmia and Subramanya S V, Fisdom has raised around $48 million to date from investors such as PayU, Saama Capital, and Quona Capital, among others, according to Tracxn.

As part of the deal, Fisdom’s founders will continue to lead the business, along with the existing team.

In FY24, Fisdom reported revenue of Rs 84 crore, a 28% increase over the previous year. The company also reduced its losses by 19%, bringing them down to Rs 57.4 crore.

This acquisition aligns with Groww’s strategy to diversify beyond its core stock trading business.