Tech

Fintech Unicorn Groww has raised $ 25 million from Iconiq Growth, Tiger Global and others, with valuations up to $ 3 billion.

Groww has grown significantly (intended to be a pun) lately (especially in the last 18 months, as more and more Indians are looking for investment). After wealth management and investment platforms raised $ 251 million as part of their latest Series E funding round, the company’s valuation has now tripled to $ 3 billion in almost six months (4). It was valued at $ 1 billion a month).

The latest round was led by Iconiq Growth and included participation from Alkeon, Lone Pine Capital, Steadfast and existing investors Sequoia Capital India, Ribbit Capital, YC Continuity, Tiger Global and Propel Venture Partners.

Founded by Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal, a five-year-old start-up is helping users invest in mutual funds, futures, exchange-traded funds (ETFs), derivatives, equities and IPOs. Is known for. It also provides tools for investor equity and portfolio analysis, with millions of users on the platform.

In addition, 70% of investors come from Tier 2 and Tier 3 regions.

FinTech Unicorn began investing in the platform in July last year.

The startup aims to expand the range of services it offers, using funding round revenues to expand its technology infrastructure, extend reach to less entrenched areas, and strengthen its team. And continue to invest heavily in the creation. Awareness of financial education and investment products.

For now, we are working hard to build an iconic and credible brand from the world’s second largest internet market. Today, Groww is ranked as one of India’s largest investment trust distribution platforms, registering over 250,000 new SIPs each month.

Yoonkee Sull, a partner at ICONIQ Growth, said: Over the past few years, Groww has shown that it is ready to seize the opportunity through a strong accelerating momentum that presupposes the strength of technology. “

Fintech Unicorn Groww has raised $ 25 million from Iconiq Growth, Tiger Global and others, with valuations up to $ 3 billion.

Source link Fintech Unicorn Groww has raised $ 25 million from Iconiq Growth, Tiger Global and others, with valuations up to $ 3 billion.

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