Groww raises $251M in Series E funding
Groww announced that it raised $251 million in its Series E round of funding led by Iconiq Growth at a valuation of $3 billion. The round also saw participation from Alkeon, Lone Pine Capital and Steadfast, Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global, and Propel Venture Partners, among others.
The online trading platform will utilise the capital raised in improving product offerings and increasing financial literacy among Indians.
“We will continue working hard to build an iconic and trusted brand out of India. 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 democratising access. And it seems the journey has just begun with such a huge opportunity ahead of us,” said Groww co-founder and CEO Lalit Keshre.
Groww was founded in 2016 and offers users options to invest in direct mutual funds, Stocks, ETFs, IPOs, etc.
Speaking about the investment Yoonkee Sull, partner at ICONIQ Growth stated, “Groww has been helping transform the way India invests by building a platform that exemplifies simplicity, trust, and constant innovation.”
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