Updates from Groww Group: Safe Exit, a better SIP section, Groww Credit, and lots more

Hello,

When we started Groww around 8 years ago, we had a very clear purpose.

We continue building with that purpose—to empower Indians by making finance simple, transparent, and delightful.

Our focus on users helped us grow fast.

As we scaled, another important factor became very important. With so many users and so much hard-earned money being managed through Groww, our focus is on responsibility as well.

What do we mean by responsibility?

It means adding extra tools and features—beyond simplicity and transparency—that help users make the right decisions.

An example of this is the right anti-nudges. They are warning messages that tell users if they are doing something risky.

Another example is ‘safe exit’ for F&O users. Safe exit helps users exit his/her positions beyond a specified loss.

In this current update and future updates, you will continue to see a lot more focus on helping investors make the right decisions.

Moving on to the key updates:

Mutual Funds

SIP is one of the best ways to build long-term wealth.

We are happy that our users are mindful of this fact because Groww has the highest number of SIPs in India.

In fact, 1 out of every 4 new SIPs in India is done on Groww.

Our mutual fund team continues to build features that help our users manage their SIPs.

The SIP page now has a better view of your SIPs—you can edit, step up, skip, or cancel them. 

Paying through UPI on the website is painful. So, we added a QR code for easy payment.

In addition to those, we made many changes on the backend to improve the performance and overall experience.

Funds by Groww

Groww Mutual Fund, our in-house mutual fund, launched two more NFOs: Groww Nifty Small Cap 250 Index Fund and Groww Nifty Non-Cyclical Consumer Index Fund.

We received an encouraging response from investors, just as we had for our first NFO, Groww Total Market Index Fund.

Groww Total Market Index Fund is the only index fund that gives investors exposure to 750 stocks. 

Stocks

Our Stocks product has grown significantly since we launched.

Groww has the highest number of active investors in the industry.

Our stock team's focus has been on scaling infrastructure and building more reliability. The incident of Jan 23 was a big one for us, and the team learned a lot of lessons.

This quarter, our focus has been on building scalability and reliability.

In addition, we enabled the discovery of SME IPOs on the IPO page.

Earlier, they were only discoverable through search. But now we have added a filter to enable visibility on the IPO page.

However, please note: Take extra caution in applying to all IPOs, specifically SME IPOs. Read and understand everything before applying.

On a related note, providing discovery of all features is very difficult on the app while keeping it clutter-free.

If you don't see anything, just try searching for it.

Our search is like teleportation to anything you want to do on the app.

F&O

Not everyone should trade in F&O.

But for people who trade, our goal is to provide them with an experience that helps them make the right decisions.

While we keep building advanced features, the team’s focus has also been to enable responsible trading.

One important feature we launched is Safe Exit.

Investors can define the maximum amount they can afford to lose. The positions are squared off as soon as the loss threshold is reached.

This will empower F&O investors to manage their risk effectively across all the positions at a defined ‘loss for the day’.

Another minor but important enhancement is the separate "open stop-loss/target orders" section.

We have made the experience of finding and modifying open OCO orders (stop-loss/target) simple and seamless on the orders tab.

Reports

It is that time of year when we get the most visits to our Reports section.

Over the last two years, we have completely rewritten the broking back office. The platform we were earlier using had many scalability issues.

The system is already live and serving millions of reports at high speed.

Some users are still on the old system, and there might be some hiccups on the new system, mainly because of corporate actions.

Please bear with us—our reports will be the best in class in the country.

When you move stocks from some other demat account, you can now set your average cost price. This will get you a clearer picture of your P&L.

Groww Pay

UPI is the pride of India. We at Groww are big supporters of digital payments.

We launched Groww UPI last year and are already in the top 7 players by value.

Last quarter, we launched the following:

• UPI Lite - it lets you make UPI payments without a PIN
• Date pickers and guiding info (to find things like subscriber number) for easier set-up journey of DTH recharge and insurance bills

App Experience

In the spirit of helping users make the right decisions, we are introducing more content inside the app.

Now, you have a ‘Discover' section inside the Notification Center, where you can find key market insights via infographics and videos.

We also shipped Budget Day ’24 insights as stories. This was the same infrastructure we built for Flashback at the end of the year.

Groww Credit

We are building a new app to enable Credit in India. The app is called Groww Credit.

It is currently in the beta phase on Android. 

We want to offer Groww users the best credit experience in India. More on this coming in the next update.

Trip to Gujarat

We continued our tradition of traveling across India.

It helps us escape the Bengaluru-Mumbai bubble and meet users in their homes or workplaces.

Last year, we covered Uttar Pradesh and Tamil Nadu. This year, we visited Gujarat.

We visited Ahmedabad, Surat, Vadodara, Baruch, and Kevadiya—and were amazed by the warmth and love from users.

One big benefit of traveling in India is the diverse and delicious food you get to eat.

That's all for this update. I will get back soon with more.

Thank you!

Lalit Keshre
CEO & Co-founder, Groww