The application simplifies the investment process for newbies where they can open a Demat account, learn about picking the right stocks, and diversify in market volatility.
The company began its operations in 2016, and its headquarters is in Bangalore, Karnataka, India.
The vision of the company is to make it accessible to every individual. The founders believe that investment these days is a fundamental necessity of every individual yet made complicated.
The Insider’s Guide to Groww
(From Right) Ishan Bansal, Lalit Keshre, Harsh Jain, Neeraj Singh are the marvellous co-founders of Groww. The top highlight of these quartets is that they are former Flipkart employees.
The idea behind the launch of the Groww application first emerged among these brilliant minds when the US retail giant took over Flipkart, where the startup of Indian Technology rapidly changed its landscape. Then he decided to take on the plunge of entrepreneurship by Lalit Keshre along with his colleagues.
They took in a very high risk stepping into an undeserved sector which could have depicted exponential growth if used rightly. In 2015 not more than 10% of the Indian population risked stopping money on stocks or mutual funds.
” The intention was to simplify the stereotype concept that investments in stocks are a hectic procedure and not for the common person.”
Funding
- In 2018 July pre-series round raised $1.6 million, followed by an A-series round in 2019 with $ 6.2 million fundraisings.
- Series B funding in 2019 September raised $ 21. 4 million, led by Ribbit Capital.
- In 2020, Y Combinator’s growth stage led Series C funding of $ 30 million was raised by Groww. Their present investors, Propel ventures, Kairos, Kauffman Fellows, Ribbit Capital, and Sequoia India also participated during the deal. As of April 2021, over $ 140 million has been raised by the company with a $ 1 billion valuation.
The capital raised will strengthen the technology infrastructure and hire great talent across growth, engineering, and product divisions.
Read More: Udaan – Success Story of India’s Largest B2B Startup
Awards and achievements
- 2nd best performer in RFD category Karnataka- BSE Star MF (2017-18).
- 3rd best performer in BSE Star MF Fintech (2017-18).
- Top performer with highest transactions in BSE Star MF Fintech (2018-19).
Why switch to Groww ?
- The company is keeping pace with the customer demands and is planning to help people invest in low-risk products such as overnight and liquid funds.
- Launch of digital gold on application: Gold mutual funds, Gold ETF’s and Digital gold investment.
More detailed information about investments in mutual funds is on the application. All the mutual fund holdings will be visible in the future with stock alerts, advanced charts, and many more upgrades.
