Groww has acquired Fisdom for $150 million, strengthening its position as India's largest brokerage and enhancing its wealth management offerings ahead of its IPO.
Target Overview: Fisdom
Founded in 2015 by Anand Dalmia and Subramanya S.V., Fisdom is a comprehensive wealth-tech platform based in India. The company has established a significant presence, operating with over 1 million customers across 15 offices nationwide. Fisdom offers various financial services, including mutual funds, stocks, bonds, portfolio management services (PMS), and tax filing solutions. As of FY24, Fisdom has demonstrated a robust financial performance, reporting a revenue of ₹84 crore, which marks a 28% increase from the previous year, alongside a reduction in losses to ₹57.4 crore.
Fisdom's strategic partnerships with investors such as Prosus, Saama, and Quona Capital bolster its market positioning, providing it with the necessary capital to scale its operations and enhance its service offerings. With its advanced technical capabilities and established client base, Fisdom plays a pivotal role in the digital wealth management landscape in India.
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Industry Overview in India
India's fintech industry, particularly the wealth management sector, has seen transformative growth in recent years. The surge in digital adoption, driven by technological advancements and increased internet penetration, ha
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Disclosed details
Transaction Size: $150M
Revenue: $10M
Net Income: $-1M