Groww to buy Fisdom in $150 million deal

BENGALURU: IPO-boundinvestment platform Groww signed an agreement to acquire wealth-tech startup Fisdom in a deal valued at approximately $150 million, people familiar with the matter told TOI. “The deal is entirely cash-based and is expected to close after regulatory approvals,” one of the people said.The transaction marks Groww’s entry into the wealth management and offline advisory space. It follows the company’s acquisition of Indiabulls Asset Management in 2023 as part of its efforts to expand into asset management.Founded in 2015 by Anand Dalmia and Subramanya S V, Fisdom offers investment and advisory products, including mutual funds, stocks, bonds, portfolio management services, and tax-filing solutions. In FY24, Fisdom reported revenue of Rs 84 crore, up 28% year-on-year, while net losses narrowed 19% to Rs 57.4 crore. Groww turned profitable in FY23.