Produced by: Tarun Mishra
Designed by: Mohsin Shaikh
Bengaluru-based Groww, led by co-founder and CEO Lalit Keshre, has recently achieved a remarkable milestone by surpassing India's leading stockbroker, Zerodha, in terms of active investors
Groww's ascent in the financial world is marked by its victory over Zerodha, as per National Stock Exchange (NSE) data. At the end of September 2023, Groww boasted 6.63 million active investors, outpacing Zerodha's 6.48 million
Lalit Keshre's journey is a testament to perseverance. Hailing from a farming family in the small village of Lepa, Madhya Pradesh, his path to success is a story of determination and hard work
Lalit Keshre's studied at an English-medium school in the Khargone district. After completing his 12th standard, he learned about the Joint Entrance Exam (JEE) and secured a seat at the prestigious Indian Institute of Technology (IIT) Bombay, thus kickstarting his remarkable journey
Lalit Keshre's career journey took him through e-commerce giant Flipkart, where he served as one of the first product managers, overseeing the Flipkart Marketplace. In 2016, he made the bold decision to venture into entrepreneurship, co-founding Groww with three other former Flipkart colleagues
Groww's platform offers users an accessible means of investing in stocks, mutual funds, ETFs, IPOs, US stocks, futures, options, fixed deposits, and gold. Its credibility is underscored by investments from prominent figures like Microsoft CEO Satya Nadella, Sequoia Capital, and Tiger Global
The fintech startup's rapid rise is evident in its user base, which grew from around 0.78 million users in FY21 to 5.78 million investors by the end of FY23
Groww's market share in active traders stood at 20.35% at the end of September 2023, followed closely by Zerodha at 19.9%. This positions them as frontrunners in the competitive landscape, with AngelOne, Upstox, and ICICI Securities following
Despite India's substantial 129.7 million demat accounts, only 33.4 million individuals actively engage in trading on the exchange annually, highlighting the vast untapped potential within the financial markets
Notably, Nextbillion Technology, the operator of fintech unicorn Groww, reported a remarkable 10.73X year-on-year (YoY) rise in profit after tax (PAT) for FY23