Zerodha is a full-stack financial service offering company providing trading and investment platforms for multiple markets. The startup offers an online platform to invest in stocks, futures, mutual funds, and more. The platform offering trading stock solutions announced a 2.2 times increase in its scale in this financial year.
The startup provides a product portfolio trading platform with app-based market data and charts. These commissions and subscription-based pricing models are the company’s primary source of revenue. The startup provides a seamless trading experience using its technologies.
Entrackr mentioned in its report that the firm also earns its income through tech platforms and support charges. The operating revenue for this financial year increased compared to the previous financial year. The startup posted an increase in its net loss to Rs 805 crore following the one-time tax payment of Rs 1,304 crore due to moving domicile to India. The data intelligence platform, tracxn mentioned that the company has secured around 393 million USD across multiple funding rounds since its inception. This includes the $251 million raised during its series E funding round from Iconiq Capital, Lone Pine Capital, and other investors.
The Bengaluru-based startup provides trading, broking, currencies, and stock trading platforms. The online platform uses advanced technologies to provide technical charts to track the market movement and analyze the market trends. The company had rapid expansion but it remained profitable and posted around 16.8 percent increase in its profits for this financial year. Entrackr reported the development first. The company reported a profit of Rs 535 crore in FY24. Groww also became the first stock-broking platform in India to cross 1 crore, active investors.
Over 12 million active investors are on its online platform. The revenue collected in the financial year 2024 is the firm’s operating income, amounting to Rs 2,900 crore. It is backed by 19 institutional investors, including Y Combinator, Ribbit Capital, and Tiger Global Management. Groww competes with other trading platforms like Upstox, Finvasia, and Angel One. Last financial year, Zerodha, the nearest competitor, recorded a turnover worth Rs 8,370 crore. On the other hand, Upstox’s revenue stayed over Rs 1,000 crore with a PAT of around Rs 25 crore in FY23.
Conclusion :
The Bengaluru-based equity investment and trading startup Groww reported its operational revenue to Rs 3,145 crore in FY24. This trading platform provides several services including equity investments, stock news, financial services, and commodities trading. These subscription and commission fees are the firm’s primary sources of revenue.
The profit also increased to Rs 535 crore in FY24. The company became the first stock broker in India to achieve 1 crore active investors in its platform. The startup has secured over 393 million USD across multiple funding rounds. Groww remained operationally profitable for FY24 with a 16.8 percent increase in its profit. The startup competes with other platforms in the same market segment like Upstox and Angel One.
Disclaimer – We have collected this information from various trustworthy sources on the Internet, and the facts have been checked manually and verified by our In House team.
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