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Groww is one of India’s most prominent investment platforms, offering mutual funds, stocks, and other financial products to millions of retail investors. Founded by Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, the platform has revolutionized how Indian consumers invest. With its intuitive mobile-first interface and a vision to democratize finance, Groww has grown exponentially in users and revenue. Headquartered in Bangalore, the company’s mission is to make financial services accessible and transparent to all Indians. As of FY23, Groww serves over 40 million users with more than 1000 employees and continues to scale both in offerings and reach.
| Founding Year | 2016 |
|---|---|
| Headquarters | Bangalore, India |
| Valuation | $3 Billion |
| Total Funding | $393 Million |
| Users | 40 Million+ |
| Employees | 1000+ |
| Revenue FY23 | ₹1,294 Cr |
| Net Profit (PAT) | ₹448 Cr |
| EBITDA Margin | 35% |
| ROCE | ~18% |
| Round | Date | Amount | Valuation | Investors |
|---|---|---|---|---|
| Series A | Jan 2019 | $6.2M | - | Sequoia, Y Combinator |
| Series B | Sep 2019 | $21.4M | - | Ribbit Capital |
| Series C | Sep 2020 | $30M | - | Y Combinator, Sequoia |
| Series D | Apr 2021 | $83M | $1B | Tiger Global |
| Series E | Oct 2021 | $251M | $3B | Iconiq Growth |
Groww has demonstrated remarkable financial growth over the last three fiscal years. Revenue surged from ₹107 Cr in FY21 to ₹1,294 Cr in FY23 — a 12x increase. Simultaneously, the company reversed its losses to report a net profit of ₹448 Cr in FY23. This reflects effective monetization strategies and a shift towards profitability, rare for fintech startups in India.
Groww’s operating leverage is improving. From burning ₹310 for every ₹100 earned in FY21, it brought this down to ₹71 by FY23. EBITDA margins flipped from deep negatives to 35%, indicating stronger unit economics and reduced acquisition costs over time.
Groww has maintained steady team growth, scaling from around 350 employees in FY21 to over 1000 by FY23. This indicates a balanced growth approach, with productivity gains and operational efficiency aligned with revenue acceleration.
In recent months, Groww has been reported to surpass Zerodha in active users, marking a pivotal shift in India’s retail investment market. This indicates a robust product-market fit and user trust in Groww’s digital-first offerings.
| Metric | Details |
|---|---|
| Employees | ↑ 1000+ – Efficient scaling |
| Revenue | ↑ ₹1,294 Cr – Strong YoY growth |
| PAT | ↑ ₹448 Cr – Turned profitable in FY23 |
| EBITDA Margin | ↑ 35% – From negative to strong margin |
| Strategic Investments | Strong focus on expansion & retention |
| IPO Status | Expected by 2026 |
| Expansion Focus | Tier 2/3 cities, insurance & lending |
| Latest News | Outpaced Zerodha in active users |
Groww’s financial turnaround and user growth are testament to its strong product, market demand, and disciplined execution. With a robust funding pipeline, expanding product suite, and growing investor trust, Groww is well-positioned to dominate India’s digital investment landscape in the coming decade.
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