back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Groww raises $251m in Series E funding led by Iconiq Growth

By Leandra Monteiro

October 25, 2021

  • Funding
  • Groww
  • Iconiq Growth
Share

GrowwGroww raised USD 251 million at a valuation of $3 billion, led by ICONIQ Growth. The round also saw participation from investors like Alkeon, Lone Pine Capital and Steadfast. Groww’s existing investors Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global, and Propel Venture Partners were also significant participants in the round.

Groww, started in 2016, offers investing in direct Mutual Funds, Stocks, ETFs and IPO for India’s growing retail investors. Groww plans to extend its reach to the under-penetrated geographies, strengthen the team and scale tech infrastructure. The company also plans to continue making significant investments in spreading financial education and awareness.

Lalit Keshre, CEO and Co-Founder of Groww said, “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 democratizing access. And it seems the journey has just begun with such a huge opportunity ahead of us.”

“Groww has been helping transform the way India invests by building a platform that exemplifies simplicity, trust, and constant innovation,” added Yoonkee Sull, partner at ICONIQ Growth.

“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. 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.”

Groww is a digital, DIY, tech-driven platform founded with a mission to make investing accessible and transparent for all. Working towards building the most customer-focused tech company for financial services in India, Groww will continue to add more financial products and services to its platform.

Previous Article

October 25, 2021

QuantoPay and Quantocoin set to launch in the US and Latin American market in 2022

Read More
Next Article

October 25, 2021

Titanbay appoints Gareth Read as Chief Operating Officer

Read More










IBSi Daily News Analysis

September 26, 2022

Funding

How will corporate banking predictions affect technology buyers?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

September 23, 2022

NYSE and TSE collaborate to support cross-border investment between the U.S. and Japan

Read More

September 20, 2022

Railsr partners with Maslife to launch a finance app

Read More

September 19, 2022

erad raises $2.4m to scale alternative growth financing platform

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022