Groww: What It Does, Who Runs It, Funding and News
Groww is an Indian investing app, run by Billionbrains Garage Ventures Limited, for mutual funds, stocks, derivatives, loans and, since 2025, wealth management. Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal founded it in Bengaluru in 2016. Y Combinator backed it in Winter 2018, and it listed on India's NSE and BSE in November 2025.
Groww is an Indian online investing platform where people buy mutual funds, stocks, IPOs, ETFs and derivatives, and borrow against their investments. Its parent company, Billionbrains Garage Ventures Limited, has traded on India's National Stock Exchange (NSE) and BSE since November 12, 2025. In the quarter to September 2026, Groww reported 2.4 crore (24 million) transacting users and ₹3.9 lakh crore (about ₹3.9 trillion) of customer assets, according to Business Today.
Y Combinator (YC), which backed Groww in its Winter 2018 batch, describes it as India's largest stockbroker by active NSE clients and the largest distributor of mutual fund SIPs (YC). Co-founder Lalit Keshre is CEO. The sections below cover Groww's key facts, what it offers, who runs it, its funding and IPO, and its news since mid-2025.
Groww key facts
Detail | Source | |
|---|---|---|
Legal name | Billionbrains Garage Ventures Limited | |
Founded | 2016 | |
Founders | Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal | |
CEO | Lalit Keshre, also a whole-time director | |
Chairman | Gaurang Shah | |
Headquarters | Bengaluru, Karnataka, India | |
Team size | 1,050 people on YC's profile of Groww (undated) | |
Accelerator | Y Combinator, Winter 2018 batch | |
Stock | Listed on the NSE and BSE since November 12, 2025, at an issue price of ₹100 | |
Fiscal 2026 results | Operating revenue ₹4,644.6 crore, up 19%; profit after tax ₹2,083 crore, up 14% | |
Website |
Groww's fiscal year runs from April to March, so fiscal 2026 ended on March 31, 2026, and the quarter to September 2026 is the second quarter of fiscal 2027. One crore is ten million, and one lakh is a hundred thousand: ₹1 lakh crore is ₹1 trillion.
What Groww does
Groww sells investing and trading products to retail investors in India through its app and website. Groww's investor pages say it began as a mutual fund platform and then added stocks, and it now lists mutual funds, stocks, IPOs, ETFs, intraday trading, futures and options (F&O), a margin trading facility and trading tools such as screeners and an option chain among its products (Groww's story). Groww also says one in every three new SIPs (systematic investment plans, regular monthly mutual fund purchases) in India is started on Groww, as of June 2026 (Groww's story).
Groww has added several businesses beyond broking:
- Groww Mutual Fund: Groww bought Indiabulls Mutual Fund in 2023 and renamed it Groww Mutual Fund (Groww's story). Its asset manager, Groww AMC, managed ₹7,179 crore in the quarter to September 2026, up 145% in a year (Inc42).
- Wealth management (W): In October 2025 Groww completed its purchase of Fisdom, a wealth-tech company founded in 2015 that offers investment advisory, portfolio management services and alternative investment funds. Groww said it would enter wealth management for affluent and high-net-worth investors under a new offering called W, led by Fisdom's founders Subramanya SV and Anand Dalmia (PTI via The Week).
- Lending: In the six months to September 2026, Groww put ₹1,915 crore into its margin trading, personal loan and loan-against-securities books (Inc42).
Equity derivatives are still Groww's largest source of income, at 44.8% of total income in the quarter to September 2026, down from 51.9% in the quarter before (Inc42).
Who runs Groww
Groww's four co-founders all sit on its board as whole-time directors and hold its four top executive roles: CEO, COO, CTO and CFO. Groww's board page lists eight directors (Groww board page):
Name | Role |
|---|---|
Lalit Keshre | Co-founder; Whole-time Director and CEO |
Harsh Jain | Co-founder; Whole-time Director and COO |
Neeraj Singh | Co-founder; Whole-time Director and CTO |
Ishan Bansal | Co-founder; Whole-time Director and CFO |
Gaurang Shah | Chairman |
Ankit Nagori | Independent Director |
Neeru Chaudhry | Independent Director |
Neetu Kashiramka | Independent Director |
Groww's investor relations page names Roshan Dave as company secretary and compliance officer, and Shiv Tallam as head of investor relations and corporate development (Groww investor relations). Groww's own story says the four founders met at a café in Indiranagar, Bengaluru, in 2016 to talk about investing (Groww's story).
Groww funding and IPO
Groww raised money from venture investors from 2018 until its June 2025 round, then went public in November 2025. By its April 2021 Series D, it had raised $142 million in total, according to Global Venturing. The table lists each round with amounts and valuations as announced or reported at the time.
Round | When | Amount | Investors and details |
|---|---|---|---|
Seed | 2018 | $1.6 million | Insignia Venture Partners, Lightbridge Partners and Kairos Ventures (Global Venturing) |
Series A | Before September 2019 | $6.2 million | Led by Sequoia India, with Propel Venture Partners, Kauffman Fellows and Y Combinator (Global Venturing) |
Series B | September 2019 | $21.4 million | Ribbit Capital, Sequoia India and Y Combinator (Global Venturing) |
Series C | September 2020 | $30 million | Led by YC Continuity, with Propel Venture Partners, Sequoia India and Ribbit Capital (Global Venturing) |
Series D | April 2021 | $83 million at a valuation of over $1 billion | Led by Tiger Global Management, with Sequoia India, Ribbit Capital, YC Continuity and Propel Venture Partners (Global Venturing) |
Series E | October 25, 2021 | $251 million at a $3 billion valuation | Led by ICONIQ Growth, with Alkeon, Lone Pine Capital and Steadfast, and existing investors Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global and Propel Venture Partners (Business Today) |
Angel investment | January 8, 2022 | Not disclosed | Microsoft CEO Satya Nadella joined as an investor and adviser (The Week) |
Series F | June 2025 | ₹1,735 crore (about $200 million) | GIC (through Viggo Investment) and ICONIQ Capital, about $100 million each, per a Registrar of Companies filing (Entrackr); Inc42's sources put the valuation at $7 billion (Inc42) |
Initial public offering | November 4 to 7, 2025; listed November 12, 2025 | ₹6,632.30 crore: ₹1,060 crore of new shares and ₹5,572.30 crore offered by existing shareholders | Price band ₹95 to ₹100; subscribed about 17.6 times (Upstox, Inc42) |
Before its IPO, Groww moved its holding company from the US to India. Lalit Keshre announced on X that the move was complete as of March 2024, with Groww Inc., the US holding company, merged into Billionbrains Garage Ventures (Inc42, May 2024).
Groww's shares opened at ₹112 on the NSE on November 12, 2025, 12% above the ₹100 issue price, and closed the day at ₹128.85, giving the company a market value of about ₹80,837 crore (about $9.1 billion) at the close. Shareholders selling in the offer included Peak XV Partners, Y Combinator, Ribbit Capital, Tiger Global and Alkeon (Inc42).
Groww news since mid-2025
- October 6, 2025: Groww completed its acquisition of Fisdom after approval from the Securities and Exchange Board of India (SEBI), and announced its W wealth business (PTI via The Week).
- November 12, 2025: Billionbrains Garage Ventures listed on the NSE and BSE after a ₹6,632 crore IPO (Inc42).
- January 14, 2026: Groww agreed to sell up to 23% of Groww AMC to State Street Investment Management for up to ₹580.02 crore, through a mix of existing and new shares. State Street's voting rights are capped at 4.99% (MediaNama).
- April 20, 2026: Fiscal 2026 results: profit after tax of ₹2,083 crore, up 14%, and fourth-quarter profit of ₹686.4 crore, up 122% from a year earlier. Transacting users reached 2.2 crore and customer assets ₹3 lakh crore (Inc42).
- July 15, 2026: For the quarter to June 2026, profit rose 94% to ₹735 crore and operating revenue rose 66% to ₹1,501.4 crore (Inc42).
- October 14, 2026: For the quarter to September 2026, profit rose 54% to ₹724.7 crore on operating revenue of ₹1,501.5 crore, up 47%. Equity derivatives revenue fell 14.3% from the previous quarter, which Groww mainly put down to the closing auction system SEBI introduced for F&O-eligible stocks on August 3, 2026. Groww also received ₹580 crore from State Street during the quarter and finished integrating Fisdom (Inc42).
Meeting someone from Groww?
Before a call with a Groww team, Merlin, a Mac app that works from your own inbox, has a People panel showing what you already have with each person: past emails and meetings in one timeline, your own notes, and reminders for anything you promised. It builds this only from your mail and calendar and knows nothing about Groww or its staff beyond that.
Get MerlinFrequently asked questions
Who founded Groww?
Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal founded Groww in Bengaluru in 2016. Y Combinator backed the company in its Winter 2018 batch.
Who is the CEO of Groww?
Co-founder Lalit Keshre is Groww's CEO and a whole-time director. The other co-founders are also whole-time directors: Harsh Jain is COO, Neeraj Singh is CTO and Ishan Bansal is CFO.
Is Groww a public company?
Yes. Groww's parent, Billionbrains Garage Ventures Limited, listed on India's NSE and BSE on November 12, 2025, after a ₹6,632 crore IPO priced at ₹100 a share.
What is Groww's parent company called?
Groww's parent company is Billionbrains Garage Ventures Limited, based in Bengaluru. Its US holding company, Groww Inc., was merged into it in a move completed in March 2024.
Who invested in Groww?
Groww's venture backers include Sequoia India, Y Combinator and YC Continuity, Ribbit Capital, Tiger Global, ICONIQ, Propel Venture Partners and GIC. Microsoft CEO Satya Nadella joined as an investor and adviser in January 2022.