Groww has been named Startup of the Year at the 2026 Economic Times Startup Awards, recognising its growth from a mutual fund platform into a listed wealthtech company. The award also reflects the changing priorities of India’s fintech market.
Groww being named Startup of the Year 2026 is a significant development for India’s fintech sector. The wealthtech platform won the top honour at the 12th edition of The Economic Times Startup Awards after competing against Meesho, Porter, Skyroot Aerospace, Rapido and Sarvam. The jury cited Groww’s execution, profitability, public listing and ability to retain its startup character while scaling.
The award comes nearly a decade after Groww was founded by former Flipkart executives Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. What began as a direct mutual fund platform has since expanded into stocks, derivatives, bonds, margin financing and wealth management. The journey offers a useful view of how India’s fintech market has evolved from basic digital access towards broader financial participation.
Groww wins ET Startup Awards 2026
Groww received the Startup of the Year award at the 12th edition of the Economic Times Startup Awards. The decision was made by an 11-member jury chaired by Wipro executive chairman Rishad Premji, following nearly three hours of deliberation.
The company faced strong competition from businesses operating across very different sectors. Meesho represented large-scale ecommerce, Porter represented logistics, Skyroot Aerospace represented private space technology, Rapido represented mobility and Sarvam represented Indian AI development.
The jury’s choice therefore was not simply a recognition of fintech growth. It highlighted a broader set of qualities, including execution in a highly regulated and competitive market, profitability, the transition to public markets and continued ability to innovate at scale.
Groww now joins previous Startup of the Year winners including Urban Company, Lenskart, Zomato, Delhivery, Razorpay, OfBusiness and Swiggy.
From mutual funds to a broader wealth platform
Groww was founded in 2016 and initially focused on making direct mutual fund investing easier for Indian consumers. The company entered stockbroking in 2020, expanding its addressable market considerably.
Its stockbroking business grew rapidly and Groww overtook Zerodha in active clients in 2023, according to Economic Times. As of July 2026, the platform had more than 13.1 million active clients.
The business has since moved beyond a simple investing application. Groww now offers stocks, mutual funds, bonds, derivatives, margin financing and wealth management services.
This expansion reflects an important change in India’s digital finance market. Customers who initially entered through mutual funds or stock trading can eventually need more sophisticated products as their savings and investments grow.
For fintech companies, the challenge is increasingly about retaining customers across multiple stages of their financial lives.
Groww’s financial performance strengthens its case
The Startup of the Year recognition also comes as Groww reports strong financial performance.
In FY26, Groww’s revenue from operations increased 20% to ₹4,644 crore, while net profit rose 14% to ₹2,083 crore. The company ended March with 21.6 million transacting users and customer assets of ₹3 lakh crore.
The momentum continued into the June quarter. Revenue climbed 66% year-on-year to ₹1,501 crore, while net profit increased 94% to ₹735 crore, according to Economic Times.
Groww’s own investor relations data, updated on August 27, shows 23 million transacting users and ₹3.77 trillion in customer assets. It also reports ₹88.68 billion in SIP inflows.
These numbers matter because profitability has become increasingly important in India’s fintech sector. The market has moved away from a period when rapid customer acquisition and high valuations were often the primary measures of success.
The IPO changed Groww’s position in fintech
Groww’s transformation also includes its transition from a privately funded startup into a public company.
In November 2025, Groww’s parent company, Billionbrains Garage Ventures, raised ₹6,632 crore through its initial public offering. The shares listed at a premium, and Economic Times reported that the company’s market value subsequently crossed ₹1.2 lakh crore.
The public listing changed the expectations around the business.
A listed fintech company faces continuous scrutiny from shareholders and public markets. Financial performance, governance, regulatory compliance, customer growth and capital allocation become visible to a much wider audience.
That makes Groww’s Startup of the Year recognition notable. The company has managed to retain its startup identity while operating under the greater transparency and accountability associated with a listed business.
The jury specifically identified the ability to retain its startup DNA after listing as one of the reasons behind the award.
India’s fintech market is moving towards wealth management
Groww’s evolution points to a wider shift in Indian fintech.
The first major phase of digital finance focused on access. Mobile applications made it easier for consumers to open accounts, invest in mutual funds, trade stocks and make digital payments.
The next phase is increasingly about helping customers manage larger and more complex pools of money.
Groww’s expansion into wealth management, bonds, loans against securities and other products reflects this opportunity. The company has also acquired wealth management platform Fisdom for ₹961 crore and launched services including W for affluent customers and MF Prime.
The change is important because India’s growing financial participation is creating customers with increasingly diverse needs.
Someone who starts with a small mutual fund SIP may eventually want access to bonds, equities, tax-efficient investment options or professional wealth management.
Fintech companies that can retain these customers may have a stronger long-term revenue opportunity than platforms focused on a single transaction.
Groww is targeting the next stage of customer needs
Groww cofounder and CEO Lalit Keshre said the company’s original challenge was removing the fear and complexity that kept many Indians away from investing. The company’s next challenge, he indicated, is helping customers make better financial decisions as their wealth and needs change.
That shift in emphasis is important for understanding the company’s strategy.
Simply increasing the number of trading accounts is no longer enough. A larger customer base creates an opportunity, but it also raises questions about customer engagement, product suitability and responsible financial decision-making.
The focus on wealth management suggests Groww wants to capture more of the financial relationship rather than remain primarily a transaction platform.
That strategy also puts the company into competition with traditional wealth managers, banks, brokerages and other digital investment platforms.
AI is becoming part of Groww’s next growth phase
Technology remains central to Groww’s strategy, but artificial intelligence is increasingly becoming part of that technology agenda.
At its first annual general meeting after listing, Keshre identified technology, wealth management and artificial intelligence as immediate priorities. Groww plans to use AI to personalise the application and improve customer service.
For a financial platform with millions of users, personalisation can have several potential applications. These can include helping customers discover relevant information, improving navigation, automating support and presenting financial information in a more understandable format.
However, financial services require additional caution when AI is used for customer-facing decisions. Accuracy, privacy, regulatory compliance and responsible communication remain important considerations.
The broader fintech industry is therefore likely to focus not only on whether AI can reduce costs, but also on whether it can improve customer outcomes without increasing financial or regulatory risks.
Groww’s journey reflects India’s fintech maturity
Groww’s story is also a reflection of how India’s fintech ecosystem has matured.
The company entered the market when digital investing was still developing rapidly. Over time, the ecosystem became more competitive, regulations became more important and investors began demanding clearer paths to profitability.
Groww’s current position combines several characteristics that were less common among early Indian fintech startups: a large customer base, profitability, a public listing and a diversified financial product portfolio.
The company’s rise also shows how consumer behaviour has changed. Investing is no longer limited to traditional brokers or wealth managers. Mobile platforms have made market participation easier for younger and first-time investors.
That does not mean every customer will become an active trader. It does mean that the potential market for formal investment products has expanded.
Competition remains intense across Indian fintech
Groww’s award should not be interpreted as evidence that competition in Indian fintech has eased.
The company operates alongside established brokers, banks, wealth managers and newer digital platforms. Customers can compare pricing, products and technology across multiple providers.
Regulation is another important factor. Financial services businesses operate under detailed rules governing customer protection, market conduct and product distribution.
The jury’s recognition of Groww’s ability to operate in a tightly regulated and competitive environment is therefore significant.
Future growth will depend on more than acquiring users. The company will need to maintain profitability, develop new revenue streams, manage regulatory obligations and keep customers engaged as financial needs become more complex.
For the broader fintech industry, this is a sign that scale alone is no longer enough.
What Groww’s award says about India’s fintech market
Groww’s Startup of the Year 2026 award captures a larger change in the Indian fintech market.
The industry’s first phase was largely about making financial products accessible through technology. The next phase is likely to focus on depth: larger customer assets, wealth management, personalised services, responsible investing and technology-driven financial advice.
Groww’s numbers show the scale that is now possible. Its customer base has reached millions, while customer assets have expanded into the trillions of rupees.
The company still faces the same challenges confronting other fintech businesses: regulation, competition, customer trust and the need to build sustainable revenue.
But its journey from a mutual fund platform in 2016 to a listed, profitable wealthtech company demonstrates how quickly India’s digital investment market has developed.
The Startup of the Year award is therefore not only a recognition of Groww. It is also an indication of what the Indian startup ecosystem increasingly values: sustainable growth, profitability, scale, execution and the ability to evolve as customers become financially more sophisticated.
Key Takeaways
- Groww won Startup of the Year at the 2026 Economic Times Startup Awards after competing against Meesho, Porter, Skyroot Aerospace, Rapido and Sarvam.
- Groww’s FY26 revenue from operations rose 20% to ₹4,644 crore and net profit increased 14% to ₹2,083 crore.
- Groww’s investor relations data shows 23 million transacting users and ₹3.77 trillion in customer assets as of August 27, 2026.
- The company’s next phase is focused on wealth management, technology and AI, showing how Indian fintech is moving beyond basic digital investing.
FAQs
Why did Groww win Startup of the Year 2026?
The ET Startup Awards jury recognised Groww for its execution in a competitive and regulated market, profitability, successful public listing and ability to retain its startup character while scaling.
How has Groww changed since it was founded?
Groww started in 2016 as a direct mutual fund platform. It entered stockbroking in 2020 and has since expanded into stocks, mutual funds, bonds, derivatives, margin financing and wealth management.
How many users does Groww have?
Groww’s investor relations page reported 23 million transacting users as of August 27, 2026. The same page reported customer assets of ₹3.77 trillion.
What is Groww focusing on next?
Groww is expanding beyond transaction-led investing into wealth management and other financial products. The company has also identified technology and artificial intelligence as priorities for personalisation and customer service.
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