India, Oct. 7 -- IPO-bound investment tech startup Groww has completed the acquisition of wealthtech platform Fisdom after receiving the Securities Exchange Board of India's (SEBI) approval, sources told Inc42.

The acquisition will serve as a launchpad for Groww's high-net-worth individuals (HNI) focussed offering 'W'.

Groww signed a definitive agreement in May to acquire Fisdom in an all-cash deal at a valuation of about $150 Mn.

Groww declined to comment on Inc42's queries on the development.

With the deal, Groww is looking to leverage Fisdom's wealthtech expertise and expansive network of banks. "With Fisdom's expertise and established partnerships with 15 national and regional banks, including Punjab National Bank and Indian Bank,...