TechBookyBusiness
No Result
View All Result
Sunday, June 26, 2022
  • Login
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us
Subscribe
TechBooky Business
No Result
View All Result
Home Funding

Fintech Startup Groww Raises $251 Million At $3 Billion Valuation

Ibhadojemu Sunday Oseyemere by Ibhadojemu Sunday Oseyemere
October 25, 2021
in Funding
Share on FacebookShare on Twitter

Groww, an investment and wealth management platform, announced on Monday that it has secured $251 million in a new Series E funding round. The round was led by ICONIQ Growth and saw the participation of investors including Alkeon, Lone Pine Capital, Steadfast, Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global, and Propel Venture Partners. The company has now raised $390 million to date, and the latest funding increases its valuation to $3 billion.

Established in 2016, Groww helps retail investors invest in mutual funds, futures, stocks, derivatives, exchange-traded funds and initial public offerings through its platform. In India, where the startup operates, more than 200 million people transact money digitally, but fewer than 30 million currently invest in mutual funds and stocks. To turn the situation around, Groww provides access to investment offerings to help more individuals start their investment journey in the world’s second-largest internet market.

“Over the last five years, we have built a product that customers love and have lowered the barriers to investing across India. We are making a difference in the lives of millions of Indians by democratizing access. And it seems the journey has just begun with such a huge opportunity ahead of us,” Lalit Keshre, Chief Executive Officer and Co-founder of Groww, said.

The startup recorded over 15 million registered users earlier this year, two-thirds of whom were first-time investors, and about 60 percent of Groww’s users come from smaller cities and towns of India —places where, before now, investment opportunities and services were inaccessible.

Commenting on the funding, ICONIQ Growth Partner Yoonkee Dull said: “The financial services market in India is already large, growing rapidly, and ripe for disruption. During the last couple of years, Groww has demonstrated that they are ready to seize that opportunity through strong accelerating momentum predicated on strength of technology.”

He further commented that the financial services market in India is already large, growing at a swift rate, and ripe for disruption. “Driven by an exceptional product-oriented team, Groww is already amongst the leading investment platforms in India, showcasing strong unit economics and customer cohorts. We are excited to participate in the company’s vision to be the primary financial platform for Indian consumers,” he said.

Groww plans to stretch to more under-penetrated areas, strengthen the team and scale tech infrastructure. The company said it will use the fresh capital to increase its product offerings and invest in creating investment awareness and spreading financial education.

Groww, like a host of other Indian fintechs, also has plans to venture into investments and transactions in cryptocurrency.

Total
9
Shares
Share 9
Tweet 0
Pin it 0
Share 0

Related Posts:

  • India’s Razorpay Raises $375 Million At A Valuation Of $7.5 Billion
    India’s Razorpay Raises $375 Million At A Valuation Of $7.5…
  • Crypto Exchange platform FTX raises $420 million at a $25 billion valuation
    Crypto Exchange platform FTX raises $420 million at a $25…
  • Kurly, A Korean Online Grocery Store, Raises $210 Million At A $3.3 Billion Valuation Ahead Of Its IPO
    Kurly, A Korean Online Grocery Store, Raises $210 Million At…
  • Crypto Listing Platform CoinList Raises $100 Million At A $1.5 Billion Valuation
    Crypto Listing Platform CoinList Raises $100 Million At A…
  • M2P Fintech, Formerly YAP, Raises $56 Million At A New Valuation of $600 Million
    M2P Fintech, Formerly YAP, Raises $56 Million At A New…
  • Fintech INDmoney Raises $75 Million In Series D Funding Round
    Fintech INDmoney Raises $75 Million In Series D Funding…
  • Indian Neobank Jupiter Raises $86 Million In New Financing Round, Plans To Launch Lending And Wealth Management Services
    Indian Neobank Jupiter Raises $86 Million In New Financing…
  • Chipper Cash Raises $150 Million In FTX-led Extension Round At A $2 Billion Valuation
    Chipper Cash Raises $150 Million In FTX-led Extension Round…
Tags: fintechFundingGrowwindiaseries e
Previous Post

PayPal’s Shares Soar 6 Percent After Announcing That It Isn’t Looking To Buy Pinterest At The Moment

Next Post

Boston-based Thrasio Raises $1 Billion In Fresh Funding At $10 Billion Valuation

Next Post
Boston-based Thrasio Raises $1 Billion In Fresh Funding At $10 Billion Valuation

Boston-based Thrasio Raises $1 Billion In Fresh Funding At $10 Billion Valuation

No Result
View All Result

Get top tech business news in your inbox

subscription from
Loading

Crypto Price List

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
  • TadpoleTadpole(TAD)
    $7.32-1.74%
  • SEENSEEN(SEEN)
    $2.05-2.27%
  • EvedoEvedo(EVED)
    $0.082301-0.80%
  • MarginswapMarginswap(MFI)
    $0.184213-2.11%
  • SakeTokenSakeToken(SAKE)
    $0.0127135.28%
  • WTF TokenWTF Token(WTF)
    $0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)
    $0.005461-5.83%
  • RobotinaRobotina(ROX)
    $0.00266138.50%
  • CageCage(C4G3)
    $0.005010-3.67%
  • YAM v2YAM v2(YAMV2)
    $4.70-1.41%

Recent Posts

  • Fintech Playter Secures $55 million to scale its BNPL offering for SMEs
  • Payment Startup SumUp Gets $624 Million In Funding At A New Valuation Of $8.5 Billion
  • E-commerce giant eBay Acquires NFT Marketplace KnownOrigin
  • Big Data Startup Zenysis Gets $13.3 Million In Series B Funding, To Scale Its Platform Across Africa And Others
  • Raba Partnership Leads API Startup Connecting African Businesses Thepeer’s $2.1 Million Seed Funding Round

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Get top tech business news in your inbox

subscription from
Loading

Popular Tags

Acquisition africa amazon apple bitcoin cbn china coinbase company crypto cryptocurrency e-commerce E-Naira earnings earnings season elon musk facebook fintech Funding gadget google government india Investment ipo kenya microsoft money netflix nigeria payment payments Q1 revenue russia service shares social media Startup Stock tech tesla twitter Ukraine whatsapp

Calendar

June 2022
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  
« May    

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Recent News

  • Fintech Playter Secures $55 million to scale its BNPL offering for SMEs
  • Payment Startup SumUp Gets $624 Million In Funding At A New Valuation Of $8.5 Billion
  • E-commerce giant eBay Acquires NFT Marketplace KnownOrigin
  • Big Data Startup Zenysis Gets $13.3 Million In Series B Funding, To Scale Its Platform Across Africa And Others
  • Raba Partnership Leads API Startup Connecting African Businesses Thepeer’s $2.1 Million Seed Funding Round
  • Nigeria’s Healthtracka Raises $1.5 Million In Seed Funding

© 2021 Techbooky Business - Design by Techbookyelite.

No Result
View All Result
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us

© 2021 Techbooky Business - Design by Techbookyelite.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$21,419.001.67%
  • ethereumEthereum(ETH)$1,231.943.26%
  • tetherTether(USDT)$1.000.14%
  • usd-coinUSD Coin(USDC)$1.000.03%
  • binancecoinBNB(BNB)$240.223.15%
  • rippleXRP(XRP)$0.3681173.13%
  • Binance USDBinance USD(BUSD)$1.000.07%
  • cardanoCardano(ADA)$0.515.73%
  • SolanaSolana(SOL)$40.912.15%
  • dogecoinDogecoin(DOGE)$0.07397711.95%
  • polkadotPolkadot(DOT)$8.153.05%
  • Shiba InuShiba Inu(SHIB)$0.0000123.71%
  • AvalancheAvalanche(AVAX)$20.924.06%
  • matic-networkPolygon(MATIC)$0.603.71%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000071-5.36%
Posting....