In a planned move, looking at the ongoing boom in the Indian startup environment, Groww which is a renowned wealth management firm, has reestablished its legal base in India, departing from its previous US domicile.

Groww, an Indian investment app, has become one of the first startups from the country to shift its domicile back home.

Groww, a leading full-stack financial services platform, is contemplating relocating its domicile from the US to India.

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.

Several companies which conduct business in India but have their headquarters overseas are shifting their base back to India, in a trend popularly known as 'reverse flipping'.

Groww, which is among the leading full-stack financial services firm in India, surpassed its rival Zerodha last year in terms of number of active investors

Wealth management startup Groww has moved its domicile to India from the US, following a trend of ‘reverse-flipping’ by Indian startups seeking to capitalise on a maturing startup ecosystem in the country.