Groww’s IPO Journey: Customer-First Philosophy And Lean Growth, Founders Share The Sauce
"A lot of our customers will now be our investors," Lalit Keshre, who quit Flipkart to start his venture, said.
IPO-bound Groww’s co-founders Lalit Keshre and Harsh Jain credit the fintech platform’s rapid rise to a relentless customer-first mindset and a lean, tech-driven approach.
Keshre said the team’s early focus was on engaging users through WhatsApp groups, Quora discussions, and hands-on customer support. This helped build trust and organic growth without heavy marketing spending.
"We think from the perspective of the customer. We still handle customer support ourselves and then come to know about problems even before our systems can detect them," Keshre, the co-founder and CEO, told NDTV Profit in an interview.
"A lot of our growth happens organically, and we don't have to spend money," he added.
Commenting on the IPO plans, Keshre, who quit Flipkart to start his venture, said, "A lot of our customers will now be our investors. They will participate in the growth of the company."
Lalit Keshrean alumnus of IIT Bombay, is one of the founders of Groww. (Image: NDTV Profit)
Groww's journey has not been without challenges. Chief Operating Officer Harsh Jain highlighted that starting with just Rs 1.5 crore in seed capital at the beginning and navigating funding challenges in 2016 and 2020 instilled financial discipline that has now culminated in Rs 1,800 crore in profit last fiscal.
"2015 was the best time to secure capital, and 2016 was a funding winter. It helped build a lean company," he said.
Harsh Jain heads Growth and Business at Groww. (Image: NDTV Profit)
Besides the capital, talent acquisition and retention for startups are key challenges. Keshre highlighted that attracting talent as an unknown startup was difficult. Once the company is large enough, the challenge becomes aligning employees to the same company vision.
With regard to regulatory changes in India's booming capital market, Jain said Groww is a tech-first company that allows it to make changes as per regulations and then implement them at scale.
"The Indian capital market has room to grow; we don't look at competition, and our focus is on building customers' wealth," he added.
As Groww heads toward its IPO, the founders believe their customers-turned-investors will continue to drive the company’s next phase of growth.
Billionbrains Garage Ventures Ltd, which runs Groww, will launch its IPO on Nov. 3 to raise Rs 1,060 crore via a fresh issue.
