The Fintech Index
183 companies rated 5 sectors 38 reports Last updated Nov 13, 2026
WLT / Wealth & brokerage platforms

Groww

Groww is a Bengaluru investing platform that lets Indian investors buy stocks, mutual funds, ETFs, IPOs, and futures and options through one app.

Established
2016
Official site
groww.in
Funding
Publicly traded on the NSE and BSE, reporting results in quarterly shareholder letters; earlier funded by venture investors

Assessment

Groww is used by retail investors in India, many of them first-time investors. It had 16.9 million active users at the end of June 2026 and 13.05 million active clients on the National Stock Exchange. Its best use cases are direct mutual funds with no commission, stock and ETF trades, IPO applications, and futures and options. Account opening and maintenance are free and equity trades cost $0.21 or 0.1%, whichever is lower, which puts it at the low end of the market on price. Its main competitors are Zerodha, Angel One, and Upstox.

Four former Flipkart employees, Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, founded Groww in 2016 and began operations in 2017. In the quarter to June 2026 revenue rose 66% to $158.1M and profit after tax reached $77.4M. Customers held about $37.9B of assets on the platform.

It fits a cost-conscious investor who wants a clean app and direct mutual funds. It is a weaker fit for an active trader who needs advanced charting and order tools, and it serves Indian residents only.

Rating by criterion

We score each of the eight criteria out of 100.

Sector criteria

Assets and account types84

Start with direct mutual funds. Groww charges no commission on them, and its direct fund assets reached about $20.0B.

Client and adviser tools82

Keep trading costs low. Equity trades cost $0.21 or 0.1% of the order, whichever is lower, with a minimum of $0.05.

Integrations and data78

Apply for IPOs from the app. Groww shows upcoming and open IPOs and handles the application.

Custody, clearing, and protection80

Rely on a regulated, publicly traded broker. Groww reports to SEBI and the stock exchanges each quarter.

Vendor criteria

Product depth and roadmap84

Expect a large, profitable platform. Groww made $77.4M of profit after tax in the quarter to June 2026.

Onboarding and support80

Open an account for free. There is no fee to open or maintain a Groww account.

Pricing transparency78

Check every charge on the pricing page. Exchange fees, stamp duty, and taxes come on top of brokerage.

Contract terms74

Treat futures and options with care. SEBI studies have found that most individual F&O traders in India lose money.

Against its peers

These are the other companies in wealth and brokerage platforms, with their ratings.

Interactive Brokers83Altruist82Zerodha82Orion81Trading 21281Groww80Lightyear80Schwab Advisor Services80InvestEngine79smallcase79SnapTrade79Fidelity Institutional78Gotrade78Mintos78Moneybox78Stake78Addepar77Alpaca77Chip77Raiz Invest77Acorns76Apex Fintech Solutions76J.P. Morgan Personal Investing76Upvest76Wealthify76Moneyfarm75Seccl75Sharesies75Vise75Plum74Atomic Invest73DriveWealth73PeerBerry69Bondora66

User comments

We read Groww’s shareholder letter, its pricing page, and its product pages to see what investors value, and set them against the main limit an investor meets.

  • Upside

    “Investors value the simple app, free account, and commission-free direct mutual funds, and Groww added 115,000 net NSE active clients in a quarter when the industry lost clients.”

  • Downside

    “Active traders say its charting and order tools lag specialist trading platforms.”

Where customer reviews couldn't be found, our analysts attempted to give a voice to buyer sentiment, drawing on real information from review sites, forums and product documentation.

Based on: Groww, shareholder letter, July 15, 2026; Groww, pricing.

Fact file

NSE active clients13.05 million
Chief executiveLalit Keshre
FY26 revenue$489.2M
Q1 FY27 revenue$158.1M, up 66%
Active users16.9 million
Customer assets~$37.9B

Competitive landscape

Indian retail brokers and investing apps an investor would compare with Groww.

Reviewed scores out of 100
0 25 50 75 100 Groww 80 Interactive Brokers 83 Zerodha 82 smallcase 79 Angel One Not reviewed Upstox Not reviewed

Groww: 80

Comparisons

Key leadership

Lalit Keshre co-founded Groww in 2016 and is its chief executive. He earlier held a senior product role at Flipkart.

How this review was created

This profile gives our own assessment of Groww to companies selecting a Wealth & brokerage platforms provider. The Fintech Index receives nothing for featuring a firm, for sponsorship, or for advertising, and Groww gave us no payment for the profile.

The rating equals the average of eight criteria, with every criterion running from 0 to 100. Four address buyer needs in this sector, and four address the company together with its commercial terms.

Ratings are our editorial judgment, made from public information: pricing and legal pages, product documentation, compliance disclosures, public reviews and filings. Fact-checking took place on November 3, 2026. Figures reported in Indian rupees were converted to US dollars at the Federal Reserve H.10 rate of 94.94 rupees per US dollar on October 30, 2026.

Source pages
  1. Groww home page: https://groww.in/ (As of November 3, 2026)
  2. Groww, pricing: https://groww.in/pricing (As of November 3, 2026)
  3. Groww, shareholder letter, July 15, 2026: https://resources.groww.in/web-assets/media-library/2026/7/Shareholders%E2%80%99%20Letter%20dated%20July%2015%2C%202026.pdf (As of November 3, 2026)
  4. Groww, Q1 FY27 earnings pack: https://resources.groww.in/web-assets/media-library/2026/7/Q1%20FY27%20AI%20Earnings%20Pack.md (As of November 3, 2026)
  5. Groww, founders: https://groww.in/blog/about-groww-founders-journey-investors-and-more (As of November 3, 2026)