Groww is a direct-to-customer digital investment platform offering multiple financial products including stocks, IPOs, derivatives, mutual funds, bonds, and personal loans. It is India’s largest and fastest-growing investment platform by active users on NSE as of June 30, 2025.

The platform enables users to invest, trade, and track their portfolios seamlessly through its app and website, supported by an in-house technology stack and intuitive design. Groww aims to make investing simple, transparent, and accessible to all Indians. Its app is the highest-rated investing app in India, with 4.61 / 5 on Google Play.

Business Model

Groww operates on a technology-led, customer-centric business model, focusing on:

1. Low-cost customer acquisition (majorly organic).
2. Long-term retention and engagement through education, tools, and a clean UX.
3. Cross-selling financial products — users typically begin with mutual funds or stocks and later adopt derivatives, loans, or margin trading.
4. High-retention cohorts — users who joined in FY22 grew their total assets 5× and 77 % remain active after three years.

Revenue Streams

Groww’s revenue primarily comes from:

1. Brokerage fees and commissions (stocks, derivatives, mutual funds).
2. Interest income from margin trading and personal loans.
3. Interest on fixed deposits kept with exchanges.

From FY23 – FY25, revenue from operations grew at a CAGR of ~85 %, making Groww one of the two fastest-growing brokers among India’s top 10 by NSE active clients.

Growth Metrics

i) Active users: Grew at a CAGR of 52.7 % between FY23 and Q1 FY26.
ii) Total Customer Assets: Grew at a CAGR of 91.1 %, reaching record highs by June 2025.
iii) Organic customer acquisition: Over 83 % of new customers join via word-of-mouth or referrals, helping reduce marketing costs.
iv) Product adoption: 5.7 million active users use multiple products (stocks + MFs + credit + MTF).

Affluent users held 33 % of total customer assets as of June 30, 2025 (vs 20 % in FY23), indicating a maturing user mix.

To be updated shortly

To be updated shortly