Nur Atifi · · 1 min readIndian investment platform scores $6.2m from Sequoia India, Y Combinator, and more
India-based investment platform Groww raised US$6.2 million in a series A round led by Sequoia India. Y Combinator, Propel Venture Partners, and Kauffman Fellows also participated in the fundraising.
The company will use the newly acquired capital to launch new products and investment options, as well as scale its technology.
Launched in April 2017, Groww is the brainchild of ex-Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal. The platform offers direct mutual fund investment plans catering to “millennial investors.”
Keshre, Groww’s co-founder and CEO, says millennials’ interests for investments are moving towards financial products instead of real estate and gold. “Our goal is to become the wealth app for the younger generation.”
The company also plans to roll out other investment products including stocks.
To date, Groww supports over 1 million users.
Tech in Asia has reached out to Groww for more information. We will update the story accordingly.
Editing by Charmaine de Lazo
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