Fisdom founders set to exit Groww a year after $150-mn acquisition

Fisdom co-founders Subramanya S.V. and Anand Dalmia are set to exit Groww after completing the integration of the wealth management firm Groww acquired last year in one of the largest consolidation deals in India's wealthtech sector.

Both founders will have completed a year with Groww by the time they exit, following the closure of the transaction, it said in a statement on Thursday.

Mint earlier reported that Groww signed a definitive agreement to acquire Fisdom in May 2025 and closed the all-cash deal at around $150 million in October. The acquisition brought Groww more than 150 wealth advisers, over ₹10,000 crore in assets under management, research and advisory capabilities, key bank partnerships, and licences spanning portfolio management services (PMS) and alternative investment funds (AIF).

Fisdom’s research and advisory teams have since folded into MF Prime, Groww's research-backed, AI-powered mutual fund recommendation engine, the company said.

According to Groww, the product is opening up new revenue streams on Groww’s core platform while pushing the company’s broader goal of extending research-led wealth management beyond just affluent and high-net-worth customers.

Fisdom, founded in 2015 by Dalmia and Subramanya, had built a wealth management platform spanning mutual funds, stocks, bonds and portfolio management before being acquired by Groww.

“Subramanya and Anand built a strong institution and steered it through a seamless integration,” a Groww spokesperson said. “The wealth business is now closely integrated with Groww’s core platform and ready for its next phase of growth.”

Groww does not plan to bring in external replacements for the two co-founders.

Instead, its own founders will take on a more hands-on role with the wealth management business, and several senior Fisdom executives will be elevated to expanded responsibilities.

Fisdom’s roughly 150-member team has been part of Groww for the past year, and leadership continuity within that group is expected to anchor the business going forward.

“The rationale for the acquisition remains fully intact—the team, clients, assets, licences and partnerships are all part of Groww today,” the company said. “The transition enables clearer ownership and tighter integration across the Groww ecosystem.”

The exits come months after Groww’s parent entity, BillionBrains Garage Ventures Ltd, launched its ₹6,632.30 crore initial public offering (IPO) in November 2025. The shares debuted on the BSE and NSE at ₹114, a 14% premium over the issue price. The stock settled 1.4% lower at ₹189.15 on the BSE on Thursday.

Founded in 2016 as Billionbrains Garage Ventures, Groww shifted its parent entity’s base from Delaware to Bengaluru, ahead of the IPO.

The company posted a consolidated net profit of ₹735 crore for the first quarter (April-June) of FY27, registering a 94.44% year-on-year jump from a year ago. Groww also reported a robust rise in revenue from operations, which surged 66% year-on-year to ₹1,501 crore in the June quarter, compared with ₹904 crore a year ago.