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{{Use dmy dates|date=January 2020}} | {{Use dmy dates|date=January 2020}} | ||
{{Use Indian English|date=January 2020}} | {{Use Indian English|date=January 2020}} | ||
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| launch_date = April 2016 | | launch_date = April 2016 | ||
| location = [[Bangalore]], [[Karnataka]], India | | location = [[Bangalore]], [[Karnataka]], India | ||
| key_people = Lalit Keshre (CEO),<br> Harsh Jain, Neeraj Singh and Ishan Bansal <ref>[http://www.businessworld.in/article/The-Four-at-Groww-are-Wooing-First-Time-Retail-Investors-with-Zero-Commission-Investment-Products/03-07-2018-153769/ The Four At Groww Are Wooing First Time Retail Investors With Zero Commission Investment Products] [[BusinessWorld]] Retrieved on 2 January 2020 </ref> | | key_people = Lalit Keshre (CEO),<br> Harsh Jain, Neeraj Singh and Ishan Bansal <ref>[http://www.businessworld.in/article/The-Four-at-Groww-are-Wooing-First-Time-Retail-Investors-with-Zero-Commission-Investment-Products/03-07-2018-153769/ The Four At Groww Are Wooing First Time Retail Investors With Zero Commission Investment Products] [[BusinessWorld]] Retrieved on 2 January 2020</ref> | ||
| industry = [[Financial technology]] | | industry = [[Financial technology]] | ||
| services = Investment platform | | services = Investment platform | ||
|website = {{URL|https://groww.in}} | |website = {{URL|https://groww.in}} | ||
}} | }} | ||
'''Groww''' is an [[Electronic trading platform|online investment platform]] that allows investors to invest in [[mutual fund]]s and [[stock]]s.<ref> [https://www.livemint.com/news/india/startups-that-put-money-to-work-11577816694019.html Startups that put money to work] [[Mint (newspaper)|Livemint]] </ref> Headquartered in [[Bangalore]], [[Karnataka]], the company has raised over $140 million as of April 2021, at a valuation of $1 billion.<ref>{{cite news |title=Groww becomes the latest unicorn with fresh $83 m funding |url=https://www.financialexpress.com/industry/sme/groww-becomes-the-latest-unicorn-with-fresh-83-m-funding/2228856/ |access-date=14 May 2021 |work=The Financial Express |date=8 April 2021}}</ref> | '''Groww''' is an [[Electronic trading platform|online investment platform]] that allows investors to invest in [[mutual fund]]s and [[stock]]s.<ref>[https://www.livemint.com/news/india/startups-that-put-money-to-work-11577816694019.html Startups that put money to work] [[Mint (newspaper)|Livemint]]</ref> Headquartered in [[Bangalore]], [[Karnataka]], the company has raised over $140 million as of April 2021, at a valuation of $1 billion.<ref>{{cite news |title=Groww becomes the latest unicorn with fresh $83 m funding |url=https://www.financialexpress.com/industry/sme/groww-becomes-the-latest-unicorn-with-fresh-83-m-funding/2228856/ |access-date=14 May 2021 |work=The Financial Express |date=8 April 2021}}</ref> | ||
== History == | == History == | ||
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== Awards == | == Awards == | ||
* 2017-18: BSE Star MF award for 2nd best performer in RFD category in Karnataka <ref> [https://groww.in/blog/bse-star-mf-award-nextbillion/ Groww Wins BSE Award for Performance]</ref> | * 2017-18: BSE Star MF award for 2nd best performer in RFD category in Karnataka <ref>[https://groww.in/blog/bse-star-mf-award-nextbillion/ Groww Wins BSE Award for Performance]</ref> | ||
* 2017-18: 3rd place in BSE Star MF Fintech – Highest Transactions 2017-18 <ref> [https://www.bseindia.com/markets/marketinfo/DispMediaRels.aspx?page=32e4bb31-5b81-4aac-ba59-b0c258610ff8 Muhurat Trading Session at BSE in the Vikram Samvat Year 2075] [[Bombay Stock Exchange]] Retrieved on 2 January 2020 </ref> | * 2017-18: 3rd place in BSE Star MF Fintech – Highest Transactions 2017-18 <ref>[https://www.bseindia.com/markets/marketinfo/DispMediaRels.aspx?page=32e4bb31-5b81-4aac-ba59-b0c258610ff8 Muhurat Trading Session at BSE in the Vikram Samvat Year 2075] [[Bombay Stock Exchange]] Retrieved on 2 January 2020</ref> | ||
* 2018-19: 1st place in BSE Star MF Fintech – Highest Transactions 2018-19 <ref name="bse-award-2019"> [https://www.bseindia.com/markets/marketinfo/DispMediaRels.aspx?page=6c3cdbbd-6927-48df-8c8c-728bfcdc55ee Muhurat Trading Session at BSE in the Vikram Samvat Year 2076] [[Bombay Stock Exchange]] Retrieved on 2 January 2020 </ref> | * 2018-19: 1st place in BSE Star MF Fintech – Highest Transactions 2018-19 <ref name="bse-award-2019">[https://www.bseindia.com/markets/marketinfo/DispMediaRels.aspx?page=6c3cdbbd-6927-48df-8c8c-728bfcdc55ee Muhurat Trading Session at BSE in the Vikram Samvat Year 2076] [[Bombay Stock Exchange]] Retrieved on 2 January 2020</ref> | ||
== See also == | == See also == | ||
Latest revision as of 12:36, 13 August 2021
| Headquarters | Bangalore, Karnataka, India |
|---|---|
| Key people | Lalit Keshre (CEO), Harsh Jain, Neeraj Singh and Ishan Bansal [1] |
| Industry | Financial technology |
| Services | Investment platform |
| Owner | Nextbillion Technology |
| Website | groww |
| Launched | April 2016 |
Groww is an online investment platform that allows investors to invest in mutual funds and stocks.[2] Headquartered in Bangalore, Karnataka, the company has raised over $140 million as of April 2021, at a valuation of $1 billion.[3]
History[edit | edit source]
Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh (former employees of Flipkart) started Groww in 2016 primarily as a mutual fund investment platform. The company started its operations through a WhatsApp group and other social media platforms engaging with members on topics relating to investing and wealth management. In 2020, the company forayed into stockbroking service.[4] The platform now offers direct investments in mutual funds, stocks, initial public offerings, digital gold, and exchange-traded funds.
Funding and acquisitions[edit | edit source]
The company is valued at $1 billion (as at May 2021)[5] and has raised more than $142 million from investors to date.
In July 2018, Groww raised $1.6 million in a pre-series A round of funding led by Insignia Ventures Partners, Lightbridge Partners, Kairos and others.[6]
In January 2019, the company raised $6.2 million in a series A round of funding led by Sequoia Capital India.[7]
In September 2019, it raised $21.4 million as a part of its series B funding round led by US-based VC firm Ribbit Capital along with participation from existing investors Sequoia India and Y Combinator.[8]
In September 2020, the company raised $30 million in a Series C funding round led by YC Continuity and previous investors.[9]
In April 2021 the startup reached unicorn status by raising $83 million at over $1 billion valuation in a Series D financing round.[10]
Groww acquired mutual fund business of Indiabulls to enter Asset management Business (AMC).[11]
Awards[edit | edit source]
- 2017-18: BSE Star MF award for 2nd best performer in RFD category in Karnataka [12]
- 2017-18: 3rd place in BSE Star MF Fintech – Highest Transactions 2017-18 [13]
- 2018-19: 1st place in BSE Star MF Fintech – Highest Transactions 2018-19 [14]
See also[edit | edit source]
References[edit | edit source]
- ↑ The Four At Groww Are Wooing First Time Retail Investors With Zero Commission Investment Products BusinessWorld Retrieved on 2 January 2020
- ↑ Startups that put money to work Livemint
- ↑ "Groww becomes the latest unicorn with fresh $83 m funding". The Financial Express. 8 April 2021. Retrieved 14 May 2021.
- ↑ Borate, Neil (19 April 2020). "Mutual Fund platform Groww to launch stock broking services". mint. Retrieved 15 May 2021.
- ↑ Ahmad, Samreen (7 April 2021). "Groww's valuation shoots past $1 billion with $83 mn Series D funding". Business Standard India. Retrieved 15 May 2021.
- ↑ Bhakta, Pratik. "Groww raises $1.6 million in pre-series A round of funding". The Economic Times. Retrieved 15 May 2021.
- ↑ "Mutual Fund investment platform Groww raises $6.2 million". The Financial Express. 24 January 2019. Retrieved 15 May 2021.
- ↑ "Groww, an investment app for millennials in India, raises $21.4M". TechCrunch. Retrieved 15 May 2021.
- ↑ Bureau, BW Online. "Groww Raises 30 M in Series C Round led by YC Community". BW Disrupt. Retrieved 15 May 2021.
{{cite web}}:|last=has generic name (help) - ↑ "Investment app for millennials, Groww, raises $83 million at over $1 billion. valuation". TechCrunch. Retrieved 15 May 2021.
- ↑ "Groww To Buy Indiabulls' Mutual Fund Business For Rs 175 Crore". Moneycontrol. Retrieved 15 May 2021.
- ↑ Groww Wins BSE Award for Performance
- ↑ Muhurat Trading Session at BSE in the Vikram Samvat Year 2075 Bombay Stock Exchange Retrieved on 2 January 2020
- ↑ Muhurat Trading Session at BSE in the Vikram Samvat Year 2076 Bombay Stock Exchange Retrieved on 2 January 2020
External links[edit | edit source]
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