In a significant milestone, fintech platform GroMo announced on Saturday that it has distributed Rs 100 crore in payouts to its partner agents as it approaches its five-year anniversary. With an eye toward the future, the company aims to achieve Rs 1,000 crore in earnings for its partner agents over the next five years, marking a testament to its commitment to financial inclusion and literacy in tier 2, 3, and smaller cities across India.
Founded by IIT Delhi alumni Ankit Khandelwal and Darpan Khurana, GroMo has been instrumental in bridging the gap between financial services and underserved communities. Through its platform, GroMo offers access to a wide array of financial products, including bank accounts, insurance, credit cards, loans, and investment options from leading banking and non-banking financial institutions.
Over the past couple of years, GroMo has significantly expanded its product portfolio, growing from 25 to over 160 offerings. The platform’s success is further underscored by its rapid expansion, with over 36 lakh partners onboarded and operational coverage across 19,000 pin codes in India. Notably, GroMo has doubled its partner base in just a year, reflecting its growing influence and reach.
Highlighting its impact, GroMo has managed to increase its partners’ earnings by four times between 2022 and 2023, a testament to the platform’s effectiveness in empowering its network of agents.
Commenting on the company’s achievements, co-founder Darpan Khurana emphasized GroMo’s commitment to integrating communities in remote areas of India into the formal financial framework. As part of its expansion strategy, the company plans to double its workforce size within the coming year and introduce innovative products to enhance the overall user experience.
GroMo’s CEO Ankit Khandelwal reiterated the platform’s dedication to bridging the financial literacy gap, emphasizing its tech-enabled, community-driven approach. With offerings ranging from insurance to investments, credit cards, and loans, GroMo continues to play a pivotal role in democratizing access to financial services and fostering economic empowerment across India.
As GroMo celebrates this significant milestone, it remains steadfast in its mission to drive financial inclusion and empower individuals and communities to achieve their financial goals.
