Investment Platform Groww Valued At $3 Billion
NDTV
Groww lets Indian retail investors invest in mutual funds, stocks, exchange traded funds and initial public offerings through its platform
Online investment platform Groww said on Monday it had raised $251 million in a new funding round that was led by ICONIQ Growth and saw participation of existing investors Sequoia Capital and Tiger Global, at a valuation of $3 billion.
Founded in 2016, Groww lets Indian retail investors invest in mutual funds, stocks, exchange traded funds and initial public offerings through its platform. The company has more than 10 million customers.
"The financial services market in India is already large, growing rapidly, and ripe for disruption," Yoonkee Sull, partner at ICONIQ Growth, said in an emailed statement.
"Groww has demonstrated that they are ready to seize that opportunity..(and) is already amongst the leading investment platforms in India."
