Financial services startup Groww moves domicile to India from the US

Fintech startup Groww has formally moved its domicile back to India from the US through a reverse flip by its parent firm, chief executive officer Lalit Keshre said on Thursday. Groww joins an increasing number of startups planning to move their domiciles to the country. Many Indian startups domiciled abroad are considering shifting their base or reverse-flipping, to India. These include companies engaged in areas such as fintech, e-commerce, stock broking, health care, and edtech. “As of March 2024, Groww has completed its domicile transition back to India. For our customers, we have always been an India-based organisation for all practical purposes since day 1. With this update, the Groww group and its subsidiaries are completely based in India. By the way, today marks the completion of 8 years of Groww. Still, a long way to go,” Keshre posted on microblogging platform X, formerly Twitter. Walmart-backed PhonePe, another major fintech startup moved its domicile from Singapore to India in October 2022. As part of this, it had to go through three steps.