IPO-bound Groww to accumulate Fisdom in $150 million all-cash deal, ETCFO

BENGALURU: Funding platform Groww has signed a definitive settlement to accumulate wealth-tech startup Fisdom in a deal valued at roughly $150 million, individuals aware of the matter advised TOI. “The deal is totally cash-based and is anticipated to shut after regulatory approvals,” one of many individuals stated.

The transaction marks Groww’s formal entry into the wealth administration and offline advisory area. It follows the corporate’s acquisition of Indiabulls Asset Administration Firm in Might 2023 as a part of its efforts to increase into asset administration.

Based in 2015 by Anand Dalmia and Subramanya SV, Fisdom affords funding and advisory merchandise together with mutual funds, shares, bonds, Portfolio Administration Providers, and tax-filing options. The corporate has partnered with over 15 nationwide and regional banks, comparable to Punjab Nationwide Financial institution and Indian Financial institution, and operates greater than 15 workplaces throughout India.

Within the monetary 12 months ended March 2024, Fisdom reported income of Rs 84 crore, up 28 per cent year-on-year, whereas internet losses narrowed 19 per cent to Rs 57.4 crore. It posted Ebitda profitability within the March quarter.

As per Tracxn, Fisdom has raised $48.4 million in whole fairness funding since its inception. Its backers embody PayU, Saama Capital and Quona Capital.

The deal provides Groww entry to Fisdom’s distribution community and a broader advisory stack, complementing its digital-first mannequin. Groww started in 2016 as a mutual fund funding platform and expanded into shares, IPOs, and exchange-traded funds in 2020. In September 2023, it grew to become India’s largest inventory dealer by energetic shoppers, in response to the Nationwide Inventory Alternate knowledge, and retained a market share of over 26 per cent as of April 2025.

Groww turned worthwhile in FY23 with income of Rs 1,277 crore and a internet revenue of Rs 449 crore. In FY24, income rose to Rs 3,145 crore with an working revenue of Rs 535 crore.

The acquisition comes as Groww gears up for a public itemizing, although timelines stay fluid. “The corporate has been getting ready internally for an IPO, and this transfer strengthens its monetary providers portfolio forward of that milestone,” stated one other particular person conscious of the plans. Groww declined to touch upon the event. Fisdom didn’t instantly reply to TOI’s requests for remark.