Manay Mehta’s Post

FY23-24 saw Groww emerge as the largest broker in India with a market share of 23.4% (Zerodha ended FY24 with a share of 18%) and an active client base of 9.5Mn. It isn't easy to win an investor's trust. But one who does will win the market. Groww is one such example. They realised that the way to win over users was not by personally giving them advice but by giving them the tools and information to make the decisions themselves. With over 400 articles on their blog, 2.3Mn followers on YouTube, 1Mn followers on Instagram, Groww democratised access to quality financial advice. Read more about Groww's journey to the top (https://lnkd.in/gyHTwF6) #investing #business #finance #investments #mutualfunds #wealth #financeandeconomy #money #investment #fintech #groww #zerodha

#StartupNews🚀: Groww Launches India's First Nifty Non-Cyclical Consumer Index Fund Lalit Keshre, Harsh Jain, Ishan Bansal and #NeerajSingh. Exciting news for investors looking for exposure to the Indian consumer sector! Groww, the popular fintech platform, has received SEBI approval to launch a new open-ended mutual fund scheme under AMC Groww Mutual Fund. This Nifty Non-Cyclical Consumer Index Fund will likely be available for investment in the first week of May. The fund will track the Nifty Non-Cyclical Consumer Index (Total Return Index), providing investors with a way to participate in the growth of companies that sell essential, non-cyclical consumer goods. This could be a good option for those seeking long-term, stable returns. This launch comes on the heels of positive financial news for Groww's parent company, Billionbrains Garage. They turned a significant corner in FY23, reporting a net profit of INR 448.7 Cr compared to a net loss of INR 239 Cr in FY22. This strong financial performance suggests a growing and stable foundation for Groww's future endeavors in the investment space. #NiftyNonCyclicalConsumer #Investment #Fintech #ProfitableGrowth #BPlanadvisors #Buildingbusinesses

#1st May# Hey there, everyone! 🌟 Here's the latest buzz in the world of business: 🚀📰 🔥 Assert Al, a computer vision SAAS company, has raised Rs 30 crore ($4 million) in a funding round led by prominent investors including: 💼 Ramesh Hariharan (ex-CTO and co-founder of LatentView), 💡 Prashant Purker (former MD & CEO of ICICI Venture), 🌾 Arya.ag (integrated grain commerce platform), and selected individuals. 💰The funds will be used to scale up the operations and develop new products. 💸👨💼 🚕 Hemant Bakshi resigned as the CEO of ANI Technologies, the parent company of Ola Cabs, just 4 months in. 👨💼Bhavesh has taken charge in his place. Bakshi has resigned due to personal reasons, and his departure comes at a critical time for the ride-sharing company as it prepares for its IPO. 💼 🎮 Short video and live streaming platform Chingari has launched Chingari Game Zone, marking its foray into the Web3 gaming space. 🕹️The move is part of Chingari's strategy to expand its offerings and attract a wider audience. 👥📈 🔍 The ride-hailing firm OLA (ANI Technologies) is planning a restructuring that will result in around 200 job cuts, pre-IPO. 📉The restructuring is aimed at streamlining operations and improving efficiency ahead of the company's IPO. 👥💼 🚀 Kiranatech platform 1K (formerly 1K Kirana Bazaar) secured Rs 32 crore or $4 million in its extended Series B round (bridge round) from existing investors in July last year at a 60% haircut in valuation. 💰The funds will be used to expand the platform and improve its offerings, strengthening its position in the Indian e-commerce market. 🛒🌐 💳 Bengaluru-based fintech start-up Fi has been granted a non-banking financial company (NBFC) license by the Reserve Bank of India. 🏦The license will allow Fi to offer a wider range of financial services to its customers, including loans, insurance, and investments. 💰📈 🌱 Homegrown investment firm Oister Global has launched a fund, Oister India Pinnacle Fund (OIPF), worth INR 440 crore (approximately $59 million), to invest in early-stage, growth-stage, and late-stage venture capital and private equity funds. 💡The fund will support the growth of India's start-up ecosystem, providing much-needed capital to innovative start-ups. 💼🌱 Hit that "FOLLOW" button to stay up-to-date with India's startup scene, feel the excitement of innovation, and be inspired by the latest news on emerging businesses!! 🔔💻👀🚀 #startups #funding #india #tech #venturecapital #NBFC #ola #chingari #kirana #fintech #investments #restructuring #startup #ICICI #Ceo #AI

Zerodha, a prominent stock broking platform, has reported impressive financial results, achieving over Rs 8,370 crore in revenue and Rs 4,700 crore in profit. This demonstrates a substantial increase compared to the previous fiscal year's operational revenue of Rs 6,875 crore and profit after tax of Rs 2,907 crore. The company has indicated that its reported profits do not include roughly Rs 1,000 crore in unrealized gains that will be recognized in future financial statements. Additionally, it revealed that more than half of its revenue has been converted into profit. CEO Nithin Kamath highlighted that Zerodha's net worth is approximately 40% of the customer funds managed, positioning the firm as one of the safer options for trading. However, he also cautioned about an anticipated plateau in revenue and profit, expecting a decline later this year due to impending regulations from the Securities and Exchange Board of India (SEBI). The regulations will eliminate the volume-based transaction fee model for free equity delivery trades, affecting all brokers, including Zerodha, with an estimated 10% revenue dip. Moreover, Kamath projected that changes to index derivatives could lead to a significant revenue fall of 30% to 50%. The implementation of new thresholds for annual maintenance charges under the basic services demat account could also affect revenue streams. Despite these challenges, Zerodha believes it can navigate through the slow period, attributing its resilience to prudent financial management and a relatively small operational team. While competition in the sector is intensifying, exemplified by Groww surpassing Zerodha in active user counts last year, Zerodha maintains its lead in profitability and business model strength. The company's recent expansions into passively managed mutual funds are expected to yield positive outcomes. Despite Kamath's cautious outlook on long-term growth potential for other players, the ongoing bull market indicates that positive financial developments may emerge across the brokerage landscape in the near future. Follow us Investupmedia **** #investupmedia #startupfounder #startupbusiness #startups #startupindia #entrepreneurs #entrepreneurship #entrepreneurmindset #makeinindia #madeinindia #indianstartups #business #businessman #startupculture

Fintech unicorn Groww has reportedly doubled its active investor base, touching nearly 11 Mn users as of June 2024, as per National Stock Exchange’s data. As per Moneycontrol’s report, the company had around 5.65 Mn users in the same period of the previous year. Citing the NSE data, the report further said that Groww gained over 5.5 Lakh users in June, while Mumbai-based Angel One added 2.2 Lakh active investors and Zerodha added 1.5 Lakh users. Earlier this month, the Securities and Exchange Board of India (SEBI) barred market infrastructure institutions (MIIs) from offering discounts based on trading volumes or activity of its members, which could threaten the revenue of the discount brokerage companies. Despite discount brokers facing regulatory interventions on their trading operations, the reports highlight the sharp rise in newly opened demat accounts. Total number of demat accounts opened has touched 160 Mn with a net addition of 4.2 Mn accounts, in June, as per the report. According to NSE data, the overall number of active investors is a little above 40 Mn. Groww stole Zerodha’s thunder of the highest active investor base, when it recorded 6.63 Mn active investors at the end of September 2023, against Zerodha’s 6.48 Mn. The report also revealed Angel One is also speeding up to pull in more users every month than Zerodha and is likely to surpass the latter soon. It is noted that the user growth of traditional full-service brokers, largely backed by banks, has been shallow with the discount brokers’ upper hand over the last decade. Despite the tough ground for traditional brokers, the report revealed, SBICAP Securities, backed by the State Bank of India, has seen its active investors rise 64% to 9.2 Lakh in June, from 5.6 Lakh users, a year ago. #startupnewsindia #NewsUpdate #startupindia #dailynews #dailynewspaper #news #newsfeed #newsupdate #indiadailynews #indiadaily #newsdaily #startup #dailyupdates #startupro #groww #growwmarket #growwmarketing #sharemarket

Groww shifts back to India, leading #fintech domicile change! #GrowwIndia #FintechTrend #DomicileShift #StartupEcosystem #ReverseFlipping #FinancialInnovation #InvestmentGrowth #BusinessStrategy #MarketLeadership #TechNews #Believeindia To read more in detail, click below: 👇 https://lnkd.in/gdq8XMYC

Groww : How It Is Changing the Traditional Ways of Investing INTRODUCTION Founded in 2016, Groww has emerged as one of India's leading fintech platforms, offering investment services that cater to a growing population of retail investors. With its user-friendly interface and innovative features, Groww has simplified the investment process, making it accessible for millions. FOUNDING TEAM AND VISION Groww was established by four ex-Flipkart employees: Neeraj Singh, Lalit Keshre , Harsh jain, and Ishan Bansal . Drawing from their experience in the e-commerce giant, they sought to democratize investing, allowing everyday individuals to manage their financial futures with ease. Their vision was clear: create an intuitive platform that removes the complexity typically associated with investing. BUSINESS MODEL: Groww operates primarily as a digital investment platform, allowing users to invest in mutual funds, stocks, exchange-traded funds (ETFs), and more. The app emphasizes a seamless user experience, featuring: User-Friendly Interface: Simplified onboarding processes and easy navigation help users, regardless of their financial literacy. No Commission Model: Unlike traditional financial advisors, Groww does not charge users for mutual fund investments, relying on other revenue streams, such as mutual fund commissions from asset management companies. Diversification: Users can explore a variety of investment options, catering to different risk profiles and investment goals. GROWTH AND ACHIEVEMENT: From its inception, Groww has experienced remarkable growth: User Base Expansion: Grew to millions of users within a few years. Funding Rounds: Raised over $300 million from investors like Tiger Global, Y Combinator, and Sequoia Capital. Unicorn Status: Achieved unicorn status in 2021, valued at over $1 billion. CHALLENGES AND STRATEGIC MOVES: Groww faces tough competition in the fintech space and has taken key steps to stay on top: New Features: Regularly adding services like fixed deposits and insurance. Following Rules: Making sure it meets financial regulations to gain user trust. User Engagement: Talking with users for feedback and to build loyalty. CONCLUSION: Groww's success story is a testament to the power of innovation and user-centric design in the fintech space. With a dedicated team, a clear vision, and a focus on education and accessibility, Groww has not only revolutionized investing for the average Indian but has also set a benchmark for other startups in the sector. As the company continues to grow and adapt, it will undoubtedly play a significant role in shaping the future of finance in India. #Groww #future #invest #smartyouth EDC JSSATE

Hi Guys, Thoughts & Updates of the Day!, Pronoy here. Great news: we’ve just completed the 23rd page of our new pitch deck. We’ve made significant progress with 23 out of 33 pages done. We’re now focusing on completing the 6th section (This section has 3 pages) "MGC Diversified Revenue Model". We aim to finalize the remaining 10 pages of design and planning this month. Next, we'll shift our focus to fundraising, targeting the 13+ investors who have already shown interest, as well as new Indian investors (Angels & VCs). Over the next two months, this will support tasks like team building, setting up our HQ in Kolkata, and transitioning Mohanta Group from a self-funded venture to India’s first VC-backed fintech conglomerate growth-stage company. We aim to advance from our current phase to the go-to-market stage, ready to serve customers across multiple industries. We’re potentially India’s first fintech conglomerate, with 9 startups under 4 main brands: Mohanta Group, Mohanta Enterprises, Mohanta Industries , and Pronoy Mohanta Zone (PMZ). We also have 5 subsidiaries: 24x7Websolution Corporation (pre-growth & MVP stage), Maa Saraswati City Education and Career Centre (pre-growth & MVP stage), PMZ Wealth Creator (growth stage & PMF_V3, our flagship brand), PMZ On-Demand (seed & MVP stage), and PMZTV Network (seed stage & freemium model initial years). Post-funding, our subsidiaries will progress to various stages: one to scale, two to growth, and two to pre-growth. 4 Important Updates: Currently, We're working on Mohanta Group’s Diversified Future Revenue Models. As you know Every founder, entrepreneur, business leader, CEO, CFO, investor, and partner/VC loves to know about revenue. 1) We’ve generated early revenue with 2 subsidiaries (PMZWC and MSCECC). While the rest have shown potential, lack of infrastructure and resources have limited our ability to capitalize fully. Our current revenue size is small, but we aim to grow significantly within 1-2 years. 2) We’ll soon share a post to discuss our infinite potential for revenue and profit in the $100T global market. For now, we can share that we'll have over 100+ revenue flows globally.  3) As we refine our pitch deck and strategy for the $100T market, we've identified the need to raise more than the initial $1M. A 2-year runway is essential to showcase our conglomerate startup model’s potential and secure $10M+ in a Series A round. 4) The next 3-4 months will be busy as we prepare to start our growth stage by early 2025. To learn more, visit https://bit.ly/MGCEmpire and contact me on LinkedIn: Pronoy Mohanta for future collaboration opportunities!. Thanks to all.

Hi Guys, Thoughts & Updates of the Day!, Pronoy here. Great news: we’ve just completed the 23rd page of our new pitch deck. We’ve made significant progress with 23 out of 33 pages done. We’re now focusing on completing the 6th section (This section has 3 pages) "MGC Diversified Revenue Model". We aim to finalize the remaining 10 pages of design and planning this month. Next, we'll shift our focus to fundraising, targeting the 13+ investors who have already shown interest, as well as new Indian investors (Angels & VCs). Over the next two months, this will support tasks like team building, setting up our HQ in Kolkata, and transitioning Mohanta Group from a self-funded venture to India’s first VC-backed fintech conglomerate growth-stage company. We aim to advance from our current phase to the go-to-market stage, ready to serve customers across multiple industries. We’re potentially India’s first fintech conglomerate, with 9 startups under 4 main brands: Mohanta Group, Mohanta Enterprises, Mohanta Industries , and Pronoy Mohanta Zone (PMZ). We also have 5 subsidiaries: 24x7Websolution Corporation (pre-growth & MVP stage), Maa Saraswati City Education and Career Centre (pre-growth & MVP stage), PMZ Wealth Creator (growth stage & PMF_V3, our flagship brand), PMZ On-Demand (seed & MVP stage), and PMZTV Network (seed stage & freemium model initial years). Post-funding, our subsidiaries will progress to various stages: one to scale, two to growth, and two to pre-growth. 4 Important Updates: Currently, We're working on Mohanta Group’s Diversified Future Revenue Models. As you know Every founder, entrepreneur, business leader, CEO, CFO, investor, and partner/VC loves to know about revenue. 1) We’ve generated early revenue with 2 subsidiaries (PMZWC and MSCECC). While the rest have shown potential, lack of infrastructure and resources have limited our ability to capitalize fully. Our current revenue size is small, but we aim to grow significantly within 1-2 years. 2) We’ll soon share a post to discuss our infinite potential for revenue and profit in the $100T global market. For now, we can share that we'll have over 100+ revenue flows globally.  3) As we refine our pitch deck and strategy for the $100T market, we've identified the need to raise more than the initial $1M. A 2-year runway is essential to showcase our conglomerate startup model’s potential and secure $10M+ in a Series A round. 4) The next 3-4 months will be busy as we prepare to start our growth stage by early 2025. To learn more, visit https://bit.ly/MGCEmpire and contact me on LinkedIn: Pronoy Mohanta for future collaboration opportunities!. Thanks to all.

Wealthtech platform Wealthy reported a strong 2.4x increase in revenue for FY24, reaching Rs 14.5 crore, compared to Rs 6 crore in FY23. Known for providing investment management and advisory services, Wealthy facilitated over Rs 4,500 crore in investments during this period. Employee benefits accounted for the bulk of its expenses, while overall costs rose 47.1% to Rs 49.5 crore. Backed by Alpha Wave Global, the company has raised Rs 117.27 crore to date, with Alpha Wave holding a significant 23% stake. Wealthy joins other top players in India's booming wealthtech sector, which has attracted over $200 million in funding in the past year. #Wealthtech #InvestmentPlatform #FintechGrowth #RevenueMilestone #AlphaWave #IndiaStartups #GrowthStory #WealthManagement #TechInFinance #Startup77