Lalit Keshre’s remarkable journey from a small village in Madhya Pradesh to the helm of one of India’s most prominent financial platforms is a testament to persistence, vision, and the power of believing in a better future. Today, as the co-founder and CEO of Groww, a company valued at over ₹24,000 crore, Keshre has reshaped how millions of Indians think about investing.
Born into an agricultural family in the village of Lepa, Madhya Pradesh, Keshre’s path was far from predictable. Despite the modesty of his beginnings, he pursued his education with unwavering focus, eventually earning a degree in Microelectronics Engineering from the esteemed IIT Bombay. But even with such prestigious credentials, the path to success was anything but straightforward.
The Early Lessons: Failure as a Foundation for Growth
After completing his studies, Keshre began his professional career as a production engineer at Ittiam Systems. While working there, he also ventured into entrepreneurship, launching Eduflix, an edtech startup that ultimately didn’t take off. This initial failure was a pivotal moment—not a setback, but a stepping stone. When Ittiam Systems closed, Keshre didn’t falter; instead, he moved forward, joining Flipkart as a product engineer.
At Flipkart, Keshre gained invaluable experience, learning the nuances of building and scaling a product. But deep down, his entrepreneurial spirit was still alive. After two years, he knew it was time to take another leap into building something of his own.
The Genesis of Groww by Lalit Keshre: Solving a Fundamental Problem
In 2016, as the Indian economy continued to grow, Keshre saw a glaring gap in the investment landscape. While there were millions of Indians with disposable incomes, only a small fraction actively participated in the financial markets. The rest remained on the sidelines, often intimidated by the complexity of investing or deterred by traditional intermediaries.
With a clear mission in mind, Keshre and three of his former Flipkart colleagues came together to found Nextbillion Technology. The product they launched—Groww—was born out of a simple yet profound idea: making investing accessible, intuitive, and seamless.
Early Days: Listening, Learning, and Pivoting
Groww began by offering regular mutual funds, accessible through a website. Keshre expected modest traction in the beginning—maybe a few hundred users. Instead, the response exceeded expectations, reaching hundreds more than anticipated. However, early users also presented a challenge: they demanded commission-free direct mutual funds and an easy-to-use mobile app.
Instead of sticking to the original plan, Keshre listened. Groww pivoted to offer direct mutual fund distribution and introduced a mobile app that quickly became a favorite among young investors. The platform didn’t just stop at meeting customer demands; it exceeded them.
Growth Fueled by Technology and Simplicity
What truly set Groww apart was its intuitive user interface and laser-sharp focus on customer experience. It wasn’t just a tool for experienced investors—it became the go-to platform for first-time investors, particularly from Tier 2 and Tier 3 cities. By demystifying financial jargon and removing the traditional barriers to entry, Keshre opened the doors for a whole new generation to build wealth.
By 2019, the company had reached the milestone of one million users. It was an impressive number, but the real success lay in how these users engaged with the platform. They weren’t just browsing; they were actively investing, setting up systematic investment plans (SIPs), and building long-term portfolios.
Breaking New Ground: From Mutual Funds to the Stock Market
As Groww established itself as a leading mutual fund distribution platform, Keshre knew it was time to take the next step: entering the stock market. In 2020, the company launched stock trading services, a move that positioned Groww as a comprehensive investment solution.
Understanding that many Indians were new to stock investing, Keshre spearheaded a free educational series, “Ab Invest Karega India.” This initiative aimed to guide first-time investors through the basics, building confidence and trust. It was a resounding success, attracting hundreds of thousands of new demat accounts in just a few months.
Unicorn Status and Beyond
By April 2021, Groww had not only gained the trust of millions of users but also caught the attention of global investors. The company raised ₹580 crore from Tiger Global, joining the coveted unicorn club. With this newfound capital, Groww continued to expand its offerings, add new features, and reach even more customers across India.
Today, Groww stands as a ₹24,000 crore powerhouse, with 6.6 million active accounts and a market share that has surpassed longstanding competitors like Zerodha. It generates over ₹1,277 crore in revenue and has a growing net profit of ₹447 crore. What makes this achievement particularly remarkable is how quickly it happened—just five years since launching its core offerings.
The Man Behind the Mission
Keshre’s success is not just measured by numbers. It’s also reflected in the lives he has impacted. By making investing accessible to millions of Indians who previously stayed away, he has empowered individuals and families to take charge of their financial futures.
Moreover, his leadership style—humble, approachable, and deeply empathetic—has set a high standard. Keshre is known for his focus on creating a positive company culture, fostering innovation, and encouraging his team to stay aligned with Groww’s mission.
Inspiring the Next Generation
Lalit Keshre’s journey from a small village in Madhya Pradesh to the top of India’s fintech world serves as a beacon of inspiration. He has shown that it’s possible to build a business that is not only profitable but also meaningful. His story reminds us that with determination, adaptability, and a genuine desire to solve real problems, success is not just a possibility—it’s inevitable.
