Groww adds a lending arrow to its finserv quiver

Groww has had a stellar run over the last two years. With more than four million active traders, Groww is now among the top stockbroking platforms in the country. For context it had around 2.6 million active traders a year back.

The Bengaluru-based startup’s rise is made even more impressive when you consider that it made these gains despite swimming in the same pond as one of the country’s largest and most profitable fintechs, Zerodha. In keeping with its name, though, Groww isn’t resting on its laurels. Instead, it wants to, well, grow.

Unlike many of its peers who are content to focus on trying to win one sector, Groww is looking for new business opportunities beyond investments. And the next big opportunity in the company’s crosshairs is credit.

Two sources in the know told The CapTable that Groww has secured an in-principle approval from the Reserve Bank of India to start a non-banking lending business. The licence has been given to one of its group entities. An in-principle approval means Groww will have to set up systems and processes to begin operations and apply for an operational licence next,