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Deepti Sri · · 1 min readIndian investment startup lands $83m in Tiger Global-led round
“Homegrown investment platform Groww has raised US$83 million in Series D round at a valuation of more than US$1 billion. With this, Groww becomes the fourth Indian unicorn to be born this week,” CNBC TV18 reported.
Details:
- Tiger Global led the financing round, which also saw participation from existing investors such as Sequoia India, Ribbit Capital, YC Continuity, and Propel Venture Partners.
- The new funds will be used to increase hiring, expand Groww’s product suite, and boost financial education and awareness.
Context:
- Founded in 2017 by former executives of ecommerce player Flipkart, Groww helps users – particularly millennials – invest in stocks, mutual funds, exchange-traded funds, initial public offerings, and gold.
- In March, it was reported that the company was in advanced talks with investors including Ribbit Capital and Tiger Global to lead its funding round in the range of US$100 million to US$125 million.
Editing by Collin Furtado
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