Groww raises USD 251 mln in Series E

Monday 25 October 2021 14:38 CET | News

India-based Groww has raised USD 251 million in its Series E financing round led by Iconiq Growth, reaching a valuation of USD 3 billion.

Alkeon, Lone Pine Capital and Steadfast as well as existing investors Sequoia Capital India, Ribbit Capital, YC Continuity, Tiger Global, and Propel Venture Partners participated in the new round. Groww, which has now raised over USD 390 million to date, was valued at USD 250 million in September 2020 and USD 1 billion in April 2021.

Groww helps millennials invest in mutual funds, futures, derivatives, stocks, and initial public offerings. The startup is working to introduce several more asset classes for its users to invest, with the plan of offering consumers all asset classes eventually.

The startup will deploy the fresh capital for its long-term growth and educating the first-time investors. Groww, like a handful of other India startups, is studying cryptocurrency, however, the startup won’t offer such investment opportunity to users until the Indian regulator clears it.

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Keywords: funding, fintech, IPO, digital assets
Categories: Banking & Fintech | Payments General
Countries: India
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