Billionbrains Garage Ventures Limited a parent company of Groww, is raising Rs 1,735 crore (around $200 million) in fresh funding. This new investment is led by GIC, Singapore’s sovereign wealth fund, and ICONIQ Capital, an existing backer.
This funding round comes right after Groww filed its draft red herring prospectus (DRHP) confidentially with SEBI, as it prepares to launch a high-profile IPO. According to official filings with the Registrar of Companies, this capital will help Groww scale faster and strengthen its business.
Investors and Stakes
As per the company’s board resolution, 3.59 crore preference shares will be issued at a price of Rs 482.8 per share. GIC, through its affiliate Viggo Investment, and ICONIQ Capital, through its ISP VII-B Blocker GW entity, are both investing Rs 867.5 crore ($100 million each).
Once the deal is closed, both GIC and ICONIQ will hold a 1.43% stake in Groww. This strategic investment boosts Groww’s financial power just ahead of its public market debut, expected to raise $700 million to $1 billion.
Focus on Expansion
The funds raised will be used to expand Groww’s core operations and scale its subsidiaries across India. The timing shows that the company is pushing forward aggressively as it prepares to go public.
Groww, founded in 2016, offers a range of financial services like mutual fund investing, stock trading, and other personal finance tools. It has built a strong user base, backed by top investors like Peak XV, Tiger Global, Ribbit Capital, and Y Combinator Continuity.
Revenue and Profits Grow
Groww has shown strong financial performance. In FY25, it posted a 31% rise in revenue, reaching Rs 4,056 crore, while profits tripled to Rs 1,819 crore. In FY24, it reported Rs 3,145 crore in revenue and an operating profit of Rs 545 crore.
However, the company reported a net loss of Rs 805 crore in FY24 due to a one-time tax payment of Rs 1,340 crore, related to shifting its domicile to India. Final audited results for FY25 are yet to be submitted.
IPO Coming Soon
While Groww has not confirmed the exact IPO timeline, its recent fundraising activity signals that it is in the last stages of preparation. With nearly $800 million in total funding, Groww is now one of the leading fintech firms in India, ready to enter the public markets.
