Lalit Keshre was reportedly born in Lepa, a village in Madhya Pradesh, to a farming family. He was sent to Khargone to live with his grandparents because the village had no English-medium school. He later won a seat at IIT Bombay and finished a dual degree in electrical engineering in 2004.
He became a Group Product Manager at Flipkart and led Flipkart Quick. Of the job he later said, "You can't do anything outside while you are still there." He quit in 2016.
He started Groww with Harsh Jain, Ishan Bansal and Neeraj Singh. It began as a direct mutual-fund platform with three funds, and about six months in the team dropped extra features to keep it simple. Keshre recalled in 2022 that early on, "they used to laugh at us." The product launched in May 2017.
Groww went public in November 2025 at 100 rupees a share with a 6,632 crore rupee issue subscribed 17.60 times. It listed at 112 rupees on NSE. Reported FY25 profit was about 1,824 crore rupees, against a loss near 805 crore rupees the year before.