Groww NBFC's Loan Book Soars to $115 Million Amid Strategic Shifts

• Groww Creditserv, Groww's NBFC, expanded its loan book to Rs 965 crore ($115 million) by June 2024, up from Rs 731 crore ($87 million) in March 2024.
• Personal loans make up 98% of the loan book, with the remaining 2% being consumer loans.
• Groww's lending portfolio also includes partnerships with Aditya Birla Finance, IDFC First Bank, and Credit Saison.
• The company dispenses around Rs 250 crore in personal and consumer durable loans monthly, peaking at Rs 350 crore before a strategic shift.
• Changes in leadership and a focus on co-lending have marked Groww's recent strategy, with significant equity funding and a growing retail stock investor base driving overall growth.

Source: The Arc