Groww, a prominent player in the financial technology sector, is strategically shifting its focus towards wealth management and lending to diversify its revenue sources, according to co-founder and CEO Lalit Keshre. Keshre revealed that lending activities now account for 6% of the company’s revenues, equivalent to approximately Rs 232 crore annually. This move signals Groww’s proactive approach to adapting to the evolving financial landscape and aligning its business model with emerging market trends.
By expanding into wealth management and lending, Groww aims to enhance its financial offerings and fortify its position in the competitive fintech industry. The decision to diversify revenue streams reflects a broader strategic vision to ensure sustained growth and resilience in the face of market fluctuations. This shift underscores a gradual decline in the contribution of stock and equity derivatives, which previously accounted for 73% of the company’s revenues.
Source: Tech-Economic Times