ADVERTISEMENT

Groww Bags 30 Million USD from YC Continuity
G

Groww, a Bengaluru-based wealth management startup, has secured 30 million USD in its Series C funding round. YC Continuity led the latest fundraise. Sequoia India, Ribbit Capital, and Propel Venture, existing investors of the firm, also participated.

Groww (1) has raised 30 million USD in its Series C funding round. YC Continuity led the fundraising, marking its first investment in India. Sequoia India, Ribbit Capital, and Propel Venture, existing investors of the firm, also participated.

The team of Groww is looking to increase its product suite and hire new product, growth, and engineering talent. The Bengaluru-based startup is also going to invest in its technology infrastructure. As per the company. it will also use the latest capital to fuel its pan-India financial education initiative, “Ab India Karega Invest.”

 

Groww Aims to Provide Excellent Management of Wealth for Investors

In a press statement, Lalit Keshre, Co-founder and CEO of Groww, stated that the startup started its journey with small steps. Initially, we wrote blogs and made videos to educate people about investments. The mission of the wealth management startup is to the excellent management of wealth to investors. 

Lalit added that they are delighted to partner with investors who believe in their long-term goals and vision. He said that YC played a critical role in its early years, and now their latest funding will help us accelerate our plans. 

The ex-executives of Flipkart founded Groww in 2017. It has over 80 lakh registered users and offers direct mutual funds and stockbrokers. The firm also claims that it has around 1.15 lakh record new SIPs every month. 

Anu Hariharan, Partner at YC Continuity, stated on the latest investment that they believe in Groww to build the most extensive retail brokerage in India. He added that YC knows the founders since the startup was an idea. They have the best products people can meet anywhere globally. We are grateful for the partnership with Groww. 

At Groww, people can invest in mutual funds, stocks, US stocks, and gold. It will soon extend its arms on other products to help users to diversity in multiple assets. The team is now close to one lakh demat accounts opening every month within three months of its launch. 

+ posts

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Rucha Joshi
Rucha Joshi
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

Ola Electric announced the acquisition of Etergo BV. Ola Electric has also announced its entrance into the premium electric two-wheeler market

Is Etergo’s acquisition brewing trouble for Investors?

0
Ola Electric Mobility Pvt Ltd had announced (1) the acquisition of Etergo, the Amsterdam-based electric scooters company. Ola Electric aims to leverage the design and...
From a website that only offered menu details to a full-fledged food ordering app, Zomato's rise has been rocking the birth of a new industry.

Zomato Revolutionizing the Food Industry

0
Beginning something like Zomato was out of an experience. One fine morning, Pankaj Chaddah and Deepindar Goyal were in Delhi's office when they saw...
The Indin government had warned Amazon and Flipkart to comply with the new rules and specify the product's country of origin, Amazon was also penalized.

The ‘Country of Origin Rule’ and Why it Matters to India?

0
India's government has fined ecommerce giant Amazon 25,000 INR for not displaying mandatory information, including the country of origin for its products (1). Last...
Stripe, one of the world's leading digital payment players, will soon penetrate Southeast Asia and India to expand its overseas activities.

Is Stripe’s entry to e-commerce Asia a bet on risk or return?

0
The entry of global players such as PayPal, Payoneer, and now Stripe in the Asia Pacific region validates the increasing market opportunity and evolving...
Paytm is also on its path to become a super app and give its users an all-in-one experience by offering a bundle of services.

Paytm Paving into a Super App, Expand its Service Offering

0
Paytm has pulled another conquest when the marketing reckon that it would take a kickback. Earlier, when there was buzz that Paytm is venturing...
The recent discussion now involves a massive data leak that put the information of students, teachers, and much more in crisis for WhiteHatJr.

WhiteHatJr Data Leak Controversy: Unfolded

0
Not too long ago, a live online coding platform for children, White Hat Jr., scripted a dream escape for itself. Byju's, the poster boy...
The story of Ashok Varma could be deemed as the most praiseworthy and controversial story of an ideal mind whose focus was to shift the market.

Meticulous and determined till the end: the story of Ashok Varma

0
Our world has been most captivated by the ideas of extreme players who took the world by storm, some who pulled the stock market...
It has been understood that Google, has been in talks or is in a state of mind to acquire Sharechat, the Indian social media platform.

Is Google taking the right measures to acquire Sharechat?

0
Sharechat has been India's go-to to engage in a short video and take a peek or have fun after the ban of the international...
ADVERTISEMENT