•  Groww triples FY25 net profit to Rs 1,819 crore on Rs 4,056 crore revenue, marking a strong financial turnaround.
• Raises $200 million in funding at a $7 billion valuation, led by GIC and Iconiq Capital.
•  Files confidential IPO papers with SEBI, aiming to raise up to $1 billion, with top banks managing the issue.

Bengaluru-headquartered parent entity Billionbrains Garage Ventures has recorded a superb financials in FY25 with net profit jumping to  Rs 1,819 Crore ore, a three-fold rise compared to the last fiscal. The firm also generated revenue of  Rs 4,056 Crore ore, as per The Economic Times.

In another boost, Groww raised $200 million in new funding at a $7 billion valuation, with Singapore's GIC and long-time investor Iconiq Capital taking the lead.

These events come even as the fintech unicorn picks up steam on its way to a public listing. Groww submitted its draft red herring prospectus (DRHP) confidentially to the Securities and Exchange Board of India (SEBI) in May 2025, for raising funds in the range of $700 million to $1 billion. The IPO will have primary as well as secondary elements, and is handled by JP Morgan, Kotak Mahindra, Citigroup, Axis Capital, and Motilal Oswal.

Started by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal in 2016, Groww started as an outright mutual fund distribution platform. It now has morphed into a wealthtech firm in its entirety, and is currently India's biggest stockbroker based on active customers. Groww had 13 million active customers as of February 2025, miles ahead of Zerodha (8 million) and Angel One (7.7 million), according to National Stock Exchange data.

Groww achieved revenue of  Rs 3,145 Crore ore and operating profit of  Rs 545 Crore ore in FY24, but closed the year with a net loss of  Rs 805 Crore ore following a one-time  Rs 1,340 Crore ore tax blow. The tax was a result of the company's reverse-flip a decision to change its domicile from Delaware (US) to Bengaluru (India).

Groww's FY25 turnabout is particularly remarkable as it takes place during a period of heightened regulatory sCrore utiny of stockbroking companies. Fresh SEBI rules, such as a ban on leverage in F&O and modifications to the broker incentive scheme, have weighed on market activity. For context, Angel One witnessed its net profit drop 49% year-on-year to  Rs 174 Crore ore in the quarter ending March, with revenue falling 22% to  Rs 1,056 Crore ore. Zerodha has not yet announced its FY25 results.

Groww's acerbic improvement in profitability and strategic fund-raising put it as a strong player among India's fintech IPO scene, highlighting its journey from being a mutual fund distributor to being a leader in wealthtech.