Groww set to acquire Fisdom for $150M
Investment platform Groww has made a definitive agreement to buy wealth-tech startup Fisdom for about $150 million in an all-cash transaction. The deal is Groww’s strategic move into the wealth management space as it gears up for its highly anticipated IPO. The deal is at present subject to regulatory clearances, including SEBI clearance.
Fisdom, supported by PayU-owned by Prosus, has established a robust presence in the wealth-tech sector with bank partnerships like Indian Bank, UCO Bank, and Bank of Maharashtra. Fisdom provides products like mutual funds, insurance, and tax filing to retail consumers, particularly those who are consuming financial products through traditional banking channels. Groww plans to use these partnerships and Fisdom’s infrastructure to enhance its offerings and increase its customer base.
This deal mirrors a wider consolidation trend within India’s fintech sector, as firms look to diversify product offerings and build end-to-end financial ecosystems. For Groww, buying Fisdom is not merely a matter of adding a new product line—it’s about accessing new channels of distribution and deepening penetration in semi-urban and rural areas where Fisdom already has a footprint.
At the same time, Groww is reportedly negotiating to raise pre-IPO capital of about $200 million at a valuation close to $6.5 billion. Fisdom’s acquisition is also likely to boost Groww’s IPO market appeal by making it a more integrated financial services player.
