Fintech platform Groww is acquiring wealthtech startup Fisdom for $150 million (₹1,280 crore) in an all-cash deal, pending regulatory approval.
Why Fisdom: founded in 2015, Fisdom offers mutual funds, stocks, bonds, tax filing, and portfolio management. It boasts 1M+ active users and tie-ups with 15+ banks, including PNB and Indian Bank, giving it deep reach across Tier 2 and 3 cities.
What Groww gains: the deal gives Groww a foot in the full-stack wealth management game. With Fisdom’s distribution muscle and product range, Groww can go beyond DIY investing to offer advisory, tax, and PMS services, a big jump in product depth.
Zoom out: Fisdom had raised $42M from the likes of PayU and Quona Capital and was last valued at $102M in 2022. Groww is now acquiring it at a 50% premium.
This is Groww’s second big move after buying Indiabulls AMC in 2023.
