Zerodha, India’s leading fintech firm, has unveiled the FLOSS/fund, a $1 million annual commitment aimed at supporting Free/Libre and Open Source Software (FOSS) projects globally. The initiative is designed to provide financial aid to open-source projects that are critical to tech infrastructure but often struggle with sustainability.
The company’s Chief Technology Officer highlighted that Zerodha’s success is deeply tied to the open-source tools it relies on for programming, databases, and infrastructure. He emphasized that without these free, high-quality resources, the company wouldn’t be where it is today. This fund marks Zerodha’s commitment to giving back to the open-source community that has been instrumental in its growth.
In addition to this initiative, Zerodha also operates Rainmatter, its venture capital arm that has backed over 100 startups across fintech, climate tech, and health sectors. The company’s continued focus on sustainability and innovation is reflected in its broader investment strategy.
Zerodha’s financial performance has also been noteworthy, with a 61% increase in profit after tax (PAT) for the 2023-24 fiscal year, reaching INR 4,700 crore, and a 21% rise in revenue to INR 8,320 crore. Despite regulatory challenges from SEBI, the firm remains resilient and continues to innovate.
By launching the FLOSS/fund, Zerodha is not only securing its technological future but also contributing to the broader global tech ecosystem, fostering open-source innovation for the benefit of all. This fund exemplifies how companies can align their business growth with impactful contributions to the communities that support them.
