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Deepti Sri · · 1 min readSources: Indian investment startup Groww in talks to raise up to $125m
“Millennials-focused investment app Groww is in conversations with new and existing investors to mop up over $100 million in a fresh round,” Entrackr reported, citing three people aware of the details.
Details:
- The fundraise may be backed by Ribbit Capital and Tiger Global, which are in the advanced stages of leading a US$100 million to US$125 million series D round in the fintech firm.
- After the transaction, the company’s valuation is expected to surge 3x and land within the range of US$850 million to US$1 billion.
Context:
- To date, Groww has raised about US$60 million across three institutional rounds. In September 2020, it bagged about US$21.6 million in its series B round.
- The online investment platform is said to be aggressively investing in its customer acquisition process as it competes with the likes of Zerodha, Upstox, IndMoney, and Paytm Money in this segment.
Editing by Collin Furtado
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