Stock broking firm Groww has crossed 100 million app downloads, becoming the first Indian investment platform to achieve this milestone, industry sources said. The development places Groww ahead of its competitors in the country's fast-growing retail investment segment, they added.
According to app store data, Groww's download numbers have outpaced other players like Angel One, which has over 50 million downloads, and Zerodha and Upstox, with over 10 million each.
The surge in downloads reflects Groww's dominant position in the market as it prepares for a public listing. The milestone comes amid strong financial performance and a consistent rise in user base, sources said.
Last month, Groww filed its draft red herring prospectus with the markets regulator Sebi through the confidential route.
In fiscal 2025, the company reported a three-fold jump in its net profit to Rs 1,819 crore and its revenue rose 31% to Rs 4,056 crore, despite broader challenges like changes in exchange rebate structures and evolving tax norms for brokers.
According to the NSE data, Groww facilitated more than one-third of all new demat accounts opened in fiscal 2025. Its active client base rose to 1.29 crore by March 2025 from 95 lakh a year earlier, marking a growth of 36%.
During the same period, its market share increased from 23.28% to 26.26%, with steady gains recorded each month. The platform's average monthly client growth stood at 3%, significantly higher than the industry average of 1.74%, as per the exchange data.
Groww Mutual Fund, the AMC arm of IPO-bound Groww, is also a major player in mutual fund distribution.
Last month, the company said it had signed a definitive agreement to acquire wealth-tech firm Fisdom in an all-cash deal worth $150 million.
The acquisition will strengthen its presence in advisory-led wealth management and complement its existing offerings in SIPs and stockbroking.
Billionbrains Garage Ventures, the parent company of financial services platform Groww Invest Tech, was founded in 2016 by four Flipkart colleagues.
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