A Bangalore-based startup Groww announced that it has successfully raised $251 million in its series E funding. This is one of the most successful funding the company ever made and this made India groww valued at $3 billion in dollars in $251 million in funding.
In this round, Groww added 3 new valuable customers to the company, namely Alekon, Lone Pine Capital, and Steadfast. Apart from this, the existing value customers of the company include various grade investors of all time, namely Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global, and Propel Venture Partners.
The funding is raised by Groww to expand its business in new areas and double its growth in the upcoming future. In this funding, investors such as Alkeon, Lone Pine Capital, and steadfast make a huge and significant investment.
The investors stated that they made the best decision ever by investing in the company as the company is one of the best companies in India which enhanced savings by the means of mutual funds and we see that in the upcoming future the company is going to raise its value more and more.
Grow is one of the leading companies which invests in mutual funds, stocks, US stocks, futures and options IPOs, and fixed deposits. It works on the concept of “your money, your choice.” It was formed in 2016 by Lalit Kesher, who is known as its recognized co-founder and CEO, and has its headquarters in Bengaluru.
Apart from Lalit, the company has three more co-founders, namely Harsh Jain, Neeraj Singh, and Ishan Bansal. The company’s work is quite simple. It encourages the saving of an investment plan a person by allowing them to invest in mutual funds, including systematic investment planning and equity-linked savings.
Groww has always been successful in raising a handsome amount of investment. At present, the total value raised through investment amounts to $390 million.
Last time it raised a huge amount of investment, which made it worth over $1 billion. And, as of now, it has successfully raised $250 million, bringing its valuation to between $1 billion and $3 billion as per Indian whatsappsinghtechcrunch.
Lalit Keshre, the CEO of Groww sales, said that we are planning to introduce more new and unique asset classes for our users to invest in. He says that we are planning to offer all the available asset classes to our users so that they can enhance their savings and investment.
We are planning to make a huge difference in the lives of millions of people living in India by democratizing their access to investment, and it seems that with this investment, the journey is already beginning. We can look ahead and see that a number of opportunities are waiting for us to grab them as soon as possible.
He further added a few words by saying that we all have a huge market in India and over 200 million people transact money digitally, but there is a challenge in front of us. While we have more than 200 million people using our platform, we have only 30 million people that invest in mutual funds and stocks.
Yoonkee Sull. A partner at ICONIQ Growth says that we have done the research and found that India is a very huge, large, and rapidly growing financial services market where people invest a lot in the financial assets of companies.
It is a positive sign for the company Groww to raise its customers and grab more and more opportunities by strengthening their technology and making new innovations in this field.
He further added that Groww has an amazing and exceptional product-oriented team, which makes it one of the leading investment platforms in India by providing new and different utilities to its customers. We are really chilled and excited to participate in the company’s vision of a new India based on investing and saving.
Groww began in 2016 by Lalit keshre as a small platform with few customers believing to invest in mutual funds. But through hard work, Groww has successfully grown its platform and customers. At present, it raised $251 billion at a valuation of $3 billion and has become one of the most trusted platforms for trading in mutual funds and equities.