The LSE Directory / Retail brokers
Groww is a Bengaluru-based Indian fintech and stockbroking platform operated by Billionbrains Garage Ventures Limited, the entity formed by reverse-merging Groww's former US holding company, Groww Inc. (Delaware), back into an Indian structure ahead of its 2025 stock market listing. Through a single app and web platform, customers trade equities, futures and options, and commodities, invest in direct (commission-free) mutual funds, ETFs and IPOs, and buy digital gold and US stocks; the company is a registered member of the NSE, BSE and MCX, and its broking business operates under the subsidiary Nextbillion Technology. Groww's original differentiator, and still its core positioning, was distributing direct mutual fund plans with no distributor commission through a simple, mobile-first app aimed at first-time and mostly younger retail investors rather than professional traders; that focus helped it overtake Zerodha as India's largest broker by active NSE clients. It has since broadened beyond discount broking: it acquired Indiabulls Mutual Fund's SEBI-licensed asset management business in 2023 and rebranded it Groww Mutual Fund, giving it a proprietary fund manufacturing arm, and in 2025 it launched a separate wealth-management brand, "W," offering portfolio management services and alternative investment funds to high-net-worth clients. Groww was founded in 2016 by four former Flipkart employees, Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal, and launched as a direct mutual fund app in 2017 before adding stock trading, ETFs, digital gold and IPOs from 2020. Its funding history includes a 2018 seed round backed by Y Combinator, a Series A led by Sequoia Capital India, later rounds from Ribbit Capital and Tiger Global, and a 2021 round led by ICONIQ Growth; in 2025 it raised a further $200 million pre-IPO round from Singapore's GIC and Iconiq Capital at close to a $7 billion valuation. For the year ended March 2025 its parent reported consolidated revenue of nearly Rs 4,000 crore and net profit of about Rs 1,820 crore, roughly triple the prior year's profit, following a net loss in FY24. The company listed on the NSE and BSE on 12 November 2025 through a Rs 6,632 crore initial public offering priced at Rs 100 per share. As of mid-2025 Groww counted more than 13 million active broking clients on the NSE, the largest of any Indian broker, and its own materials cite over 50 million registered customers across its products. It continues to expand from discount brokerage into asset management, wealth advisory and lending under its newly listed parent structure.
