Groww's Strategic Expansion: Acquisition of Fisdom Fuels Wealth Management Ambitions
Investment platform Groww has acquired wealth-tech startup Fisdom, gaining regulatory approval from Sebi. This move allows Groww to expand into wealth management through a new offering, 'W', targeted at High Net-worth Individuals. Groww's growth aligns with India's burgeoning wealth landscape and its ongoing IPO preparations.
- Country:
- India
Investment powerhouse Groww has successfully acquired wealth-tech enterprise Fisdom following regulatory approval from Sebi, according to industry insiders. The acquisition, finalized on Monday, signals Groww's expansion into the wealth management arena, introducing a new service labeled 'W' aimed at affluent clients.
This strategic move broadens Groww's scope beyond its core areas of retail investing and mutual funds. Founded in 2016, the firm has progressively developed into a versatile financial platform, now venturing into asset management and wealth advisory services.
With the wealth management arm spearheaded by Fisdom's founders, Groww anticipates increasing its affluent customer base amid India's rapidly evolving wealth landscape. The ongoing IPO preparations further indicate Groww's growth ambitions, with potential capital infusion from the upcoming public offering.
(With inputs from agencies.)
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