From challenger to leader: How Groww pipped its rival Zerodha to become India’s largest investment platform

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Groww has surpassed Zerodha in active user count, capturing a significant market share by targeting first-time investors and underserved cities. Despite this user base advantage, Zerodha maintains a lead in profitability and revenue per user. Both platforms face headwinds from regulatory scrutiny on derivatives trading and increased competition.

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