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This puts Groww ahead of its rival Zerodha, which has an active user base of 75 lakh. In May, Groww added approximately 4.33 lakh active users, while Zerodha added around 1.14 lakh.

Groww leads online discount broking market with over 1.03 crore active users in May

This puts Groww ahead of its rival Zerodha, which has an active user base of 75 lakh. In May, Groww added approximately 4.33 lakh active users, while Zerodha added around 1.14 lakh.

Financial services firm Groww has solidified its position as the leader in the online discount broking market, with its active user base surpassing 1.03 crore in May, according to NSE data released on June 12.
This puts Groww ahead of its rival Zerodha, which has an active user base of 75 lakh.
Also read/watch - <a title="Online gaming industry once again urges government to reconsider 28% GST policy" href="https://www.editorji.com/business-news/online-gaming-industry-once-again-urges-government-to-reconsider-28-gst-policy-1718180241383">Online gaming industry once again urges government to reconsider 28% GST policy</a>
In May, Groww added approximately 4.33 lakh active users, while Zerodha added around 1.14 lakh. As a result, Groww's market share likely exceeded 30 percent.
Angel One saw significant growth in May, adding 1.84 lakh users, bringing its total active user base to 64.86 lakh.
Upstox, another prominent player in the online discount broking market, has an active user base of 25.91 lakh, while Vijay Shekhar Sharma's Paytm Money reported 7.86 lakh active users, according to moneycontrol.

Users posted screen shot of the errors and tagging capital markets regulator SEBI demanding action against the trading platform

Groww glitch triggers outrage: Users demand compensation for missed trades, losses

<h2>Users posted screen shot of the errors and tagging capital markets regulator SEBI demanding action against the trading platform</h2>

Users of the online trading platform Groww are now demanding compensation after facing technical difficulties on the platform on Tuesday morning. Numerous users reported challenges in logging into their accounts and executing trades, resulting in financial losses.
At around 11.30 am Groww said that the issue had been resolved. However, many of the users are demanding answers from the platform.
Others posted screen shot of the errors and tagging capital markets regulator SEBI demanding action against the trading platform. Groww Users Express Frustration and Demand Compensation Amid App Glitch Following the glitch, platform users posted screenshots of login errors and claimed financial losses. Numerous users are now requesting compensation to recover from the trading losses. 
&ldquo;Dear @_groww, it&rsquo;s unfortunate that app is crashed...suffered loss...Kindly pay me the compensation,&rdquo; wrote another user.
&ldquo;Pay for our losses. Let's file a legal complaint and sue these idiots. It might be a well-planned move. Absolutely pathetic. It's close to 1 hr now. These idiots shudnt (Shouldn't) be left. They should pay for our loss. Will delete it and shift. Rate them on Play Store right now,&rdquo; said another user.
"This is the state of Groww app during peak trading timings. Who will be responsible for the loss suffered due to your worst app," a user wrote on X.
Meanwhile, a third user said, &ldquo;Groww app is not working. Who are responsible for our open positions?&rdquo;

While Groww's customer base has surged by 750%, Zerodha still tops in terms of revenue as it focusses on Futures & Options trading

Groww surpasses Zerodha; becomes top brokerage firm in active investors count

<h3>While Groww's customer base has surged by 750%, Zerodha still tops in terms of revenue as it focusses on Futures &amp; Options trading</h3>

Brokerage Firm:&nbsp;Groww overtakes Zerodhaa and becomes India's &nbsp;leading brokerage in terms of number of active investors.
<h3>Groww's ladder climb</h3>
According to NSE, Groww has 6.63 million active investors while Zerodha has 6.48 million at the end of September 2023. This is a substanial growth as in March 2023, Groww had only 0.78 million investors while, Zerodha possesed 3.4 million customers. While Zerodha has seen a steady growth that stagnated over the last couple of years, Groww's customer base has surged by 750%.
Also Read: <a href="https://www.editorji.com/business-news/zerodha-invests-rs-100-crore-in-gaming-firm-nazara-tech-nikhil-kamath-s-stake-in-the-firm-rises-to-3-5-1693820851892">Zerodha invests Rs 100 crore in gaming firm Nazara Tech; Nikhil Kamath's stake in the firm rises to 3.5%</a>
The growth of Groww has also attracted formidable competitors, such as HDFC Bank, which launched the Sky discount broking app.
<h3>Groww's Popularity</h3>
The Venture-capital backed Platform gained popularity as they don&rsquo;t charge customers for account opening or annual maintenance. This has also encouraged a people to open demat accounts. By the end of September, there were approximately 12.97 crore demat accounts in the country. As per NSE data, only 3.34 crore Indians actively trade at least once a year on the exchange.
<h3>Groww vs Zerodha</h3>
Even though the number of customers has grown for Groww, Zerodhaa still tops in terms of revenue. During FY23, &nbsp;Zerodha reported a 39% growth in revenue at Rs 6,875 crore compared with the previous financial year. It also reported an identical growth in profits, which stood at Rs 2,907 crore during the last fiscal.
Nextbillion Technology Private Limited, which runs Groww, has recorded a revenue of Rs 1,294 crore in FY23, more than three-fold growth from Rs 367 crore it reported in FY22. It reported a net profit of Rs 73 crore.
As per Moneycontrol, The sizeable difference in revenue is mostly due to Zerodha&rsquo;s dominance in the Futures &amp; Options trading which is a highly profitable segment. Meanwhile Groww focusses on attracting new customers with long-term investment products and mutual funds, especially SIP.

Exact a month is left for Christmas, but the online trading firm, Upstox is celebrating it already. 
Upstox has crossed the billion-dollar valuation mark in its latest and ongoing fundraising round after raising $25 million from Tiger Global and has become a unicorn! 
With this, Upstox has raised the fresh funds at a valuation of $3.4 billion.
What is Upstox?Founded in 2009, Upstox allows retail investors to trade in the equity market through the platform and it also allows mutual fund investments, and futures and options trading. 
As online trading firms have seen a sharp spike, Upstox also hopes to cater to the next 500 million Indians going online for all their financial services needs.
With this, Upstox’s valuation has surpassed its close rival Groww which was recently valued at $3 billion following a $251 million financing round in October.
 

Upstox turns unicorn with fresh round of raising $25 million

Meet the newest billion dollar startup! Upstox valuation soars as Tiger Global invests further.

Another unicorn comes riding in

Upstox has raised the fresh funds at a valuation of $3.4 billion or Rs 25,458 crore

Its early Christmas&nbsp;for online trading platform&nbsp;Upstox&nbsp;as it celebrates soaring past the billion valuation mark. Tiger Global which is an existing investor in the firm as further put in $25 million, this time valuing the company at $ 3.4 billion as per reports.&nbsp;
Also watch|&nbsp;<a title="Crypto Crushed! Flashback to when Malaysia destroyed 1000 Bitcoin mining rigs with a steamroller" href="https://www.editorji.com/business-news/cryptocurrency/crypto-crushed-flashback-to-when-malaysia-destroyed-1000-bitcoin-mining-rigs-with-a-steamroller-1637910206107">Crypto Crushed! Flashback to when Malaysia destroyed 1000 Bitcoin mining rigs with a steamroller</a>
What is Upstox? Founded in 2009,&nbsp;Upstox offers online stock market investment services, advisory services and mutual fund investments. The platform&nbsp;has seen its customer base jumping from 2 million in January 2021 to over 6 million.&nbsp;
Upstox directly competes with Zerodha, Groww and IndMoney. Apart from Zerodha, Tiger Global is an investor in all three stockbroking companies

Online investment platform Groww&nbsp;is acquiring&nbsp;Indiabulls Mutual Fund for Rs 175 cr.&nbsp;Groww&nbsp;is now the first fintech to enter the asset management space after SEBI&nbsp;gave nod&nbsp;allowing digital platforms like fintechs to enter the mutual funds business.Groww started out as a platform for investing in mutual funds, but recently it entered into stock broking as well has investors such as&nbsp;Tiger Global, Sequoia Capital India.

Startup Groww moves into the MF biz, buys unit from Indiabulls

Online investment platform Groww&nbsp;is acquiring&nbsp;Indiabulls Mutual Fund for Rs 175 cr.&nbsp;Groww&nbsp;is now the first fintech to enter the asset management space after SEBI&nbsp;gave nod&nbsp;allowing digital platforms like fintechs to enter the mutual funds business. Groww started out as a platform for investing in mutual funds, but recently it entered into stock broking as well has investors such as&nbsp;Tiger Global, Sequoia Capital India.

Online investment platform Groww&nbsp;is acquiring&nbsp;Indiabulls Mutual Fund for Rs 175 cr.&nbsp;Groww&nbsp;is now the first fintech to enter the asset management space after SEBI&nbsp;gave nod&nbsp;allowing digital platforms like fintechs to enter the mutual funds business. Groww started out as a platform for investing in mutual funds, but recently it entered into stock broking as well has investors such as&nbsp;Tiger Global, Sequoia Capital India.

groww

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