IPO-bound Groww reports 3X jump in FY25 profit, raises $200M at $7B valuation

Billionbrains Garage Ventures Pvt Ltd, the parent company of the investment platform Groww, reported a nearly threefold increase in net profit to Rs 1,819 crore in FY25. In comparison, revenue soared 31% year-on-year to Rs 4,056 crore, according to a document seen by YourStory.

The document, citing an ROC (Registrar of Companies) filing, stated that the IPO-bound firm has also closed a Series F funding round, raising $200 million at a valuation of $7 billion. The round saw participation from new investor GIC (Singapore) and existing backer ICONIQ Capital.

The stock-broking platform was last valued at $3 billion in 2021 during its Series E round.

Last month, the Bengaluru-based firm confidentially filed draft papers with SEBI, targeting a public issue of $700 million to $1 billion.

Groww did not respond to queries sent by YourStory. The copy will be updated once YourStory recieves a response.

As of FY24, the company posted revenue of Rs 3,145 crore and an operating profit of Rs 545 crore. However, it reported a net loss of Rs 805 crore due to a one-time tax payment of Rs 1,340 crore related to its redomiciling to India.

Founded in 2016, Tiger Global-backed Groww emerged as the market leader in stock broking in 2023. It has since retained this position, commanding a 26.32% market share by active clients.

The firm has also expanded its offerings into digital lending, wealth management, and other allied services. It recently acquired wealth-tech startup Fisdom in an all-cash deal worth $150 million, entering into the wealth advisory space. This is Groww’s second major acquisition, following its purchase of Indiabulls AMC in 2023.