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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 ==
Line 33: Line 33:


== 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 ==

Revision as of 10:26, 13 August 2021


Groww
HeadquartersBangalore, Karnataka, India
Key peopleLalit Keshre (CEO),
Harsh Jain, Neeraj Singh and Ishan Bansal [1]
IndustryFinancial technology
ServicesInvestment platform
OwnerNextbillion Technology
Websitegroww.in
LaunchedApril 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

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

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

  • 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

References

  1. ↑ The Four At Groww Are Wooing First Time Retail Investors With Zero Commission Investment Products BusinessWorld Retrieved on 2 January 2020
  2. ↑ Startups that put money to work Livemint
  3. ↑ "Groww becomes the latest unicorn with fresh $83 m funding". The Financial Express. 8 April 2021. Retrieved 14 May 2021.
  4. ↑ Borate, Neil (19 April 2020). "Mutual Fund platform Groww to launch stock broking services". mint. Retrieved 15 May 2021.
  5. ↑ 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.
  6. ↑ Bhakta, Pratik. "Groww raises $1.6 million in pre-series A round of funding". The Economic Times. Retrieved 15 May 2021.
  7. ↑ "Mutual Fund investment platform Groww raises $6.2 million". The Financial Express. 24 January 2019. Retrieved 15 May 2021.
  8. ↑ "Groww, an investment app for millennials in India, raises $21.4M". TechCrunch. Retrieved 15 May 2021.
  9. ↑ 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)
  10. ↑ "Investment app for millennials, Groww, raises $83 million at over $1 billion. valuation". TechCrunch. Retrieved 15 May 2021.
  11. ↑ "Groww To Buy Indiabulls' Mutual Fund Business For Rs 175 Crore". Moneycontrol. Retrieved 15 May 2021.
  12. ↑ Groww Wins BSE Award for Performance
  13. ↑ Muhurat Trading Session at BSE in the Vikram Samvat Year 2075 Bombay Stock Exchange Retrieved on 2 January 2020
  14. ↑ Muhurat Trading Session at BSE in the Vikram Samvat Year 2076 Bombay Stock Exchange Retrieved on 2 January 2020

External links

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