Fintech giant Groww has signed a definitive agreement to acquire wealth-tech startup Fisdom in an all-cash deal, subject to regulatory approval, according to sources. The agreement values Fisdom between $140 million and $160 million.
This acquisition is seen as a strategic step to strengthen Groww’s wealth management capabilities and broaden its product suite. Moreover, it marks Groww’s second major acquisition, following its purchase of Indiabulls AMC in May 2023.
Anand Dalmia and Subramanya SV founded Bengaluru-based Fisdom in 2015. Since then, the company has provided a wide range of wealth management services, including mutual funds, stocks, bonds, portfolio management services (PMS), and tax filing solutions.
Backed by investors such as PayU, Saama Capital, and Quona Capital, Fisdom now serves over a million customers through a network of more than 15 offices across India.
Fisdom provides a comprehensive suite of wealth management solutions, including mutual funds, stocks, bonds, portfolio management services (PMS), and tax filing assistance.
Fisdom has partnered with 15 national and regional banks—such as Punjab National Bank and Indian Bank—to help these institutions distribute wealth products to their customers.
In FY24, Fisdom generated ₹84 crore in revenue, reflecting a 28% year-on-year growth. It also cut its net losses by 19% to ₹57.4 crore. Notably, Fisdom achieved EBITDA profitability in the March quarter of FY24, demonstrating improved operational efficiency and strong growth momentum.
Groww, founded in 2016 as a mutual fund investment platform, steadily broadened its product offerings to include stocks, IPOs, and ETFs by 2020. Consequently, by September 2023, NSE data showed that Groww had become India’s largest stockbroker by active client base.
As of April 2025, Groww maintained its leadership with a market share of over 26%. The company achieved profitability in FY23, reporting ₹1,277 crore in revenue and ₹449 crore in profit. Building on that momentum, Groww posted ₹3,145 crore in revenue and an operating profit of ₹535 crore in FY24.
After acquiring Indiabulls AMC in May 2023 to establish an asset management arm, Groww plans to acquire Fisdom to further strengthen its position in the wealth management space.
Groww’s strategic acquisitions reflect its commitment to expanding and enhancing its wealth management offerings. With the acquisition of Indiabulls AMC already boosting its asset management capabilities, the planned purchase of Fisdom will further accelerate its growth and solidify its leadership in the fintech space. Ultimately, these moves position Groww to deliver more comprehensive and innovative financial solutions to its growing customer base.
