“Startups becoming unicorns” are the latest trend in the intensely competitive Indian market. Groww had already crossed a $1 billion valuation in April 2021. However, 5 months later, the Bengaluru-based investing platform surpassed the $3 billion mark. Demat trading, fixed deposits, futures and options, gold, and mutual funds are the different services offered for users. 10 million users trust the Groww app for handling their money. Entrepreneurs aiming to enter the Fintech revolution can launch a Groww clone in collaboration with AppDupe.
What are the core features of our Groww like the solution?
- Automatic KYC verification – It is essential to do Know Your Customer (KYC) checks for all traders. This prevents fraud and the misuse of funds by illegal parties. Likewise, users can create their accounts on Groww clone in just a few minutes.
- Charts and graphs section – Statistical details are available instantaneously on our Groww clone. Registered investors will know the historical performance of various financial instruments, ups and downs in prices of fixed deposits, recurring, and savings schemes.
- Instant login option – “Be fast or be last”. AppDupe firmly believes in this principle. We provide a Google-based sign-in facility for users. They can instantly sync their email accounts and start putting money in no time.
- Modern filter and search mechanism – Wish to locate the right mutual fund? Customers can utilize different filters based on assets under management (AUM), minimum and maximum investment amount, price to earnings (P/E) ratio, and yearly returns.
- Numerous security measures – There are lots of safety steps for preventing hacking, phishing, and scamming attacks. Our Groww like app protects investors with 128-bit encryption, multi-factor authentication, and Secure Sockets Layer (SSL). Thus, users will receive real-time alerts when unauthorized parties try to access the funds.
- One-click trading of shares – Convenience at its best is the hallmark of the Groww like platform. Prospective investors can buy and sell financial assets in no time. This ensures that they never miss out on putting money in instruments when the markets are bullish.
- Paperless Demat account opening – All the securities and shares of publicly traded corporations can be held in a Demat account. Cumbersome paperwork is avoided for users. They can open it freely with robust digital processes.
- Popular on Groww section – The monetary assets with sky-high returns are displayed on a panel. Mutual funds and stocks of both private companies and public sector corporations are showcased.
Members can opt for either a monthly Systematic Investment Plan (SIP) or a One-Time Investment. They can separate the financial instruments based on each sector. Users will receive live data about the absolute returns, annualized returns (1,3, and 5 years), expense ratio, monthly order trends, and the proportion of debt/ equity/ cash.
Upgrade your fintech business with a Groww Clone
Connect on WhatsApp Up-to-the-minute portfolio management
Handling portfolios is a breeze on the Groww clone. People can switch their money from regular to direct mutual funds quickly.
They can monitor the returns earned over a phase. Crystal-clear data is available about internal and external mutual investments. Additionally, users can split their mutual fund earnings into 4 caps (large, mid, multi, and small). They can check out the movement of MFs on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) respectively.
Sharing of real-time financial news
“The most valuable commodity I know of is information”, goes a famous quote. Our platform such as Groww circulates instant updates about news, stock market trends, and videos. Eventually, Indian users can make the right decision while investing.
State-of-the-art MF calculator
Users will know the exact returns they would earn over a period. Our app-like Groww contains an advanced Mutual Fund (MF) calculator. Investors will know the expected yields from bonds and stocks after a certain duration.
Automatic updates will be sent for the 3 types of mutual funds (debt, equity, and hybrid). Likewise, they can utilize the Systematic Investment Plan (SIP). Customers will be aware of the proceeds received from individual mutual fund schemes over a specific interval.
What is the business model of a platform like Groww?
There are numerous revenue streams for you when you own a Groww like the app. It includes auto-square fees, commission per buy or sells order on equity brokerages, contract value fees for physical delivery of derivatives, deposit participatory charges, exchange transaction fees for trading in the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), futures and options brokerages, Goods and Service Tax (GST), SEBI turnover charges, securities transaction tax (STT), and stamp duty.
The operating costs are also minimum since all the buying and selling of fixed deposits, futures and options, gold, and US stocks happen online. There is no need to set up a physical structure for operating a stock exchange. Thus the chance of earning profits is high since the costs are low and the revenue is humongous.
What is the cost of Groww Clone App Development?
The budget of creating a platform like Groww depends on numerous factors.
It relies on several aspects such as
- Compliance with the guidelines of the Associated Mutual Funds of India (AMFI) and the Securities and Exchange Board of India (SEBI).
- Level of customization needed by entrepreneurs like you.
- Maintenance of the Android and iOS mobile apps.
- The nature of features and functionalities on the platform.
- The type of frameworks and technologies used.
- Time is taken to develop the front-end and back-end of the Groww clone.
- Wages are paid to the app developers, marketing specialists, and website designers.
Further, we at AppDupe offer countless post-launch services. It comprises API integration, the inclusion of payment gateways, security upgrades, software up-gradation, and 24×7 technical assistance.
Wrapping Up
Above all, Groww has captured the mindset of Indian investors. They want to earn lofty returns in a quick duration. Importantly, the startup is targeting traders in the 25-40 age group. With fresh funding of $250 million, the Karnataka-headquartered platform will target a whopping 200 million users.
As face-to-face investing clashes with the digital space, the Groww platform wants to simplify buying and selling of stocks for financial assets. Interestingly, the Indian fintech app is also planning to enter crypto trading. This will help it to attract institutional investors across every nook and corner of the country.
With money flowing in from venture capitalists (VCs) across the world, Groww is planning to pocket Annual Recurring Revenue (ARR) of $35 million. Are you that entrepreneur looking to transform the way people handle their money? Our Groww clone is apt for you. Get in touch with us and smash all records in the fintech industry.
Fill up your coffers through Groww Clone App Development
Marketing is my soul mate and writing is my side kick. Using my writing skills to share the knowledge of app development and upcoming technologies.
