Wealth-tech platform Groww accounted for 48% of new SIP growth in India from FY17 to FY26. The company now manages ₹1.57 lakh crore in mutual fund assets, driven by deep penetration into smaller towns and a strong influx of younger investors.
Groww has emerged as a central pillar in India's retail investment landscape, according to its latest annual report for FY25-26. The platform reported that it was responsible for 48% of the total growth in new systematic investment plans (SIPs) between FY17 and FY26. This trend highlights the platform's ability to attract a large volume of retail participants into mutual funds.
Operational Scale and User Growth
The platform's reach has expanded significantly, with total mutual fund assets under management (AUM) reaching ₹1.57 lakh crore as of March 31, 2026. In the last financial year alone, Groww processed over 204 million SIP transactions, resulting in inflows of ₹46,624 crore. By the end of FY26, the company recorded 21.6 million transacting users, with a substantial portion of these being new to the stock market. Younger investors are playing a major role in this expansion, as 70% of new users onboarded during the last fiscal year were under 35 years of age.
Geographic Reach and Product Adoption
A critical factor in Groww's growth is its penetration beyond major metropolitan areas. The data shows that 84% of its transacting user base is located outside India's top six cities, with the platform's services now available across 97% of the country's PIN codes. This geographic spread is accompanied by a trend of users adopting multiple financial products. By March 2026, 68% of active users were utilizing more than one product, up from 55% in FY23. This multi-product engagement is associated with higher user loyalty; data indicates a 91% retention rate for multi-product users over a 36-month period, compared to 81% for those using only one product.
Strategic Shift to Wealth Management
Looking ahead, the company is pivoting its business model. Co-founder and CEO Lalit Keshre indicated that the firm plans to evolve from a purely transactional interface into a broader wealth management provider. The goal is to move beyond simple trade execution to offer more comprehensive financial guidance. As the platform transitions, investors and market observers will track how the company maintains its growth momentum while managing the complexities of offering more diverse financial products to a younger and largely first-time investor base. The company's future success will likely depend on its ability to sustain user retention rates and manage the operational requirements of its expanding AUM.